TEL AVIV—Teva Pharmaceutical Industries expects to finalize an opioid settlement in the United States by year-end and start paying in 2023, its chief executive said on Sunday, while confirming he was unlikely to renew his contract next year.
After years of negotiations, Israel-based Teva in July proposed a $4.35 billion nationwide settlement—mostly cash and partly medicines that will amount to $300 million to $400 million over 13 years—to resolve its opioid lawsuits.
U.S. states, cities, and counties filed more than 3,000 lawsuits against opioid manufacturers, distributors, and pharmacies, accusing them of playing down the risks of addiction and failing to stop pills from being diverted for illegal use….