Teva Pharma to pay Oklahoma $83 million for opioid case settlement

Date: 2019-05-28   Author: Pankaj Singh  Category: #news

Teva Pharma to pay Oklahoma $83 million for opioid case settlement

Teva Pharmaceuticals USA and affiliates of Teva Pharmaceutical Industries Ltd. have entered an agreement with the state of Oklahoma to settle state claims against the company. Teva will make a one-time payment of $85 million to the state of Oklahoma, for the settlement. The settlement doesn’t confirm any wrongdoings on the part of Teva, as the pharmaceutical company has not contributed to opioid abuse in Oklahoma, reports source.

For the record, Teva Pharmaceuticals industries Ltd. has been developing & producing medicines to improve human lives for over a century. It is a global leader in generic & specialty medicines and has a portfolio consisting of over 35,000 products in most of the therapeutic areas. Approximately 200 million people around the world take Teva medicine every day.

As per industry experts, the company has resolved the matter in a manner to that the people who have suffered due to abuse of opioids are benefitted and effects of opioid crisis are also somewhat eliminated. The company continues to keep its sustained stability at the top of its priority. Teva remains focused on creating access to life saving medications. For instance, the first generic naloxone spray, created by Teva, recently got a final approval and is widely recognized as an important lifesaving medication to battle opioid abuse.

As per reliable sources, Teva has come out clean after putting a halt to the Oklahoma case and is prepared to actively defend claims against the company which includes an upcoming court trail in Cleveland, where most of the cases are pending. The payment made by Teva to the state will be allocated as per state discretion which will include fee payment and costs in connection of the settlement.

Teva acknowledges the harmful impact of illegal drug use, misuse and abuse of opioids. Teva continues to advocate for collaborative solution for the crisis across the U.S.

Source credits:

https://www.tevapharm.com/news/company_statement_teva_reaches_agreement_with_state_of_oklahoma_to_resolve_state_s_claims_against_the_company_05_19.aspx



About Author


Pankaj Singh linkdin-boxtwitter

Pankaj Singh

Pankaj Singh Develops content for Algosonline, Market Size Forecasters, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

Read More

Post Recommendents

Leaded Disc MOV Market 2021-2027 Detailed Analysis and Growth Strategies, Regional and Recent Scenario Analysis

Author: Sachin Pashte

Decoding Covid-19 impact on Leaded Disc MOV market over 2021-2027, with report inclusions as growth determinants, challenges, and revenue generating prospects.

The recent study on Leaded Disc MOV market is compiled with an objective to a...


Plastic Pre-Filled Syringes Sales Market Share, Growth, Statistics, by Application, Production, Revenue & Forecast to 2027

Author: Sachin Pashte

Market Study Report adds a new research on Global Plastic Pre-Filled Syringes Sales Market for the period of 2021-2027 that shows the growth of the market is rising at a Steady CAGR to 2027.

The recent study on Plastic Pre-Filled Syringe...


Clindamycin Phosphate and Benzoyl Peroxide Sales market to showcase strong CAGR between 2027 and 2027

Author: Sachin Pashte

Primary aspects discussed in Clindamycin Phosphate and Benzoyl Peroxide Sales market research report: profit margins, pricing models, production and consumption volume, demand and supply trends, COVID-19 impact.

The recent study on Clind...