Teva Pharm to pay Oklahoma $85 million to settle opioid claims

BOSTON/JERUSALEM (Reuters) - Teva Pharmaceutical Industries said on Sunday it had agreed an $85 million settlement with the state of Oklahoma days before the company was set to face trial over allegations that it and other drugmakers helped to fuel the U.S. opioid epidemic. Teva, the world's largest generic drugmaker, said the settlement 'does not establish any wrongdoing on the part of the company' and denied contributing to opioid abuse in Oklahoma.

Reuters May 27, 2019 00:05:08 IST
Teva Pharm to pay Oklahoma $85 million to settle opioid claims

Teva Pharm to pay Oklahoma 85 million to settle opioid claims

BOSTON/JERUSALEM (Reuters) - Teva Pharmaceutical Industries said on Sunday it had agreed an $85 million settlement with the state of Oklahoma days before the company was set to face trial over allegations that it and other drugmakers helped to fuel the U.S. opioid epidemic.

Teva, the world's largest generic drugmaker, said the settlement "does not establish any wrongdoing on the part of the company" and denied contributing to opioid abuse in Oklahoma.

Claims against Teva focused on the branded opioid products Actiq and Fentora as well as generic painkillers it produced.

The trial against Israel-based Teva, along with Johnson & Johnson, was set to begin on Tuesday. The lawsuit alleged the companies' marketing of the painkiller was to blame for the opioid epidemic.

Johnson & Johnson had no immediate comment.

Oklahoma Attorney General Mike Hunter has alleged that J&J and Teva, along with OxyContin maker Purdue Pharma LP, carried out deceptive marking campaigns that downplayed opioids' addictive risks while overstating their benefits.

    The state also alleges the companies' actions created an oversupply of painkillers and a public nuisance that will cost $12.7 billion to $17.5 billion to remedy.

Oklahoma resolved its claims against Purdue Pharma LP in March for $270 million.

The Oklahoma case is being closely watched by plaintiffs in other opioid cases, particularly some 1,850 mostly municipal and state governments that have sued the same drugmakers in the federal court in Ohio.

"Teva is pleased to put the Oklahoma case behind it and remains prepared to vigorously defend claims against the company, including the upcoming federal court trial in Cleveland where the majority of the cases are pending," the company said.

Attorney General Hunter's office said in a statement the money would be used to address the opioid crisis in Oklahoma and that the J&J case is still scheduled to go to trial on Tuesday before Cleveland County District Judge Thad Balkman.

"Nearly all Oklahomans have been negatively impacted by this deadly crisis and we look forward to Tuesday, where we will prove our case against Johnson & Johnson and its subsidiaries," Hunter said in a statement.

(Reporting by Nate Raymond and Ari Rabinovitch. Editing by Jane Merriman)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

also read

France, Germany to agree to NATO role against Islamic State - sources
| Reuters
World

France, Germany to agree to NATO role against Islamic State - sources | Reuters

By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States

China's Xi says navy should become world class
| Reuters
World

China's Xi says navy should become world class | Reuters

BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.