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Pharmaceutical Giant Teva Set to Pay $4B+ in National Opioid Settlement

The Israeli drugmaker’s proposed deal involves giving away billions in cash and drugs.

The Israeli company Teva Pharmaceuticals has agreed to a deal worth $4.25 billion to settle thousands of lawsuits relating to the U.S. opioid epidemic. On Tuesday, the drugmaker announced it had tentatively accepted the terms of a massive settlement with states’ attorneys generals, Native American tribal leaders, and others to end a lengthy legal battle about whether or not the company misled physicians about its addictive fentanyl drugs for cancer patients. If the settlement goes ahead, it would see Teva paying $3 billion in cash and $1.2 billion in Narcan—the drug used to reverse opioid overdoses—over 13 years. “Today’s settlement ensures Teva will pay for its irresponsible actions, with funds going directly to communities in Pennsylvania most impacted by the opioid epidemic,” Pennsylvania Attorney General Josh Shapiro said in a statement.