New York could get $524M under opioid settlements with Teva

NEW YORK (AP) — New York will receive up to $524 million from drugmaker Teva to settle claims that the company contributed to the U.S. opioid epidemic, the largest amount secured from an opioid manufacturer or distributor sued by the state, Attorney General Letitia James announced Thursday.

The state has reached a series of settlements with drug companies following an attorney general's lawsuit in 2019 accusing them of deceptive marketing and failing to prevent the unlawful diversion of controlled substances.

Teva Pharmaceuticals USA, Inc. and its affiliates were found liable last year for public nuisance charges by a jury on Long Island. To resolve the remedies phase, Teva agreed to pay out $313 million over 18 years, James said.

New York will additionally receive $211 million from a $4.3 billion national settlement Teva agreed to in July if it is approved by state and local governments and tribes, according to the attorney general.