Attorney General Bonta continues to seek accountability from those responsible for opioid epidemic
OAKLAND – California Attorney General Rob Bonta today announced an agreement in principle on key financial terms with opioid manufacturer Teva. The agreement would provide up to $4.25 billion to participating states and local governments to address the opioid crisis. While critical details of the settlement remain the subject of ongoing negotiations, Teva disclosed the agreement Tuesday ahead of its earnings announcement Wednesday.
“This agreement is another major step toward addressing the opioid crisis and healing our communities,” said Attorney General Bonta. “Nothing can undo the harm opioids makers like Teva have inflicted on families across the country or the lives lost to the opioid epidemic. But this agreement will provide much-needed relief for its victims and importantly, critical funds for overdose prevention and opioid addiction disorder treatment.”
Teva, an Israel-based drug manufacturer, makes Actiq and Fentora, which are branded fentanyl products for cancer pain, and a number of generic opioids including oxycodone. States alleged that Teva:
The parties have agreed on the following financial terms:
A final settlement remains contingent on agreement on critical business practice changes and transparency requirements.
The negotiations are being led by the following states: California, Illinois, Iowa, Massachusetts, New York, North Carolina, Pennsylvania, Tennessee, Texas, Vermont, Virginia, and Wisconsin. While New York is among the 12 states that negotiated this proposed settlement framework, Teva and New York are still engaged in further negotiations.