Teva reaches $85M agreement with State of Oklahoma
Teva Pharmaceuticals USA and related affiliates of Teva Pharmaceutical Industries, and the state of Oklahoma, have entered into an agreement for a one-time payment of $85M to the state. The settlement resolves the state's claims against Teva. The settlement does not establish any wrongdoing on the part of the company. "While the company has long stated that the courtroom is not a place to address the crisis, 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 state will allocate the payment made by Teva at its discretion including for payment of its fees and costs in connection with this settlement. Teva recognizes the devastating impact to communities across the U.S. as a result of illegal drug use and the misuse and abuse of opioids that are available legally by prescription. Teva continues to advocate for collaborative solutions throughout the country," the company said.