Teva Pharmaceutical Industries will pay a total of about $523 million to New York state to settle lawsuits that alleged the Israeli-based company had contributed to the opioid epidemic in the United States.
The $523 million total opioid payout to New York comprises two separate settlement agreements with Teva. The other settlement is a nationwide one reached in July that the company is working to finalize, valued at up to $4.25 billion. New York’s share of that amount is $210,548,226.20, according to Attorney General Letitia James’s office.
The latest settlement with New York state increased Teva’s total opioid payouts by $300 million.
According to James’ office in a release: “After achieving a historic liability verdict following a seven-month jury trial against Teva in 2021, today’s Teva New York Agreement resolves the remedies phase for a total of $313,343,793.95. Combined, New York will receive $523,892,020.15 from Teva.”…