TEVA - Teva Pharmaceutical in $4.35B opioid settlement with states Native American tribes

• Teva Pharmaceutical Industries ( NYSE: TEVA ) has reached a tentative agreement with U.S. states and Native American tribes that resolves claims related to the Israeli pharma's role in the U.S. opioid crisis.
• Under the proposed settlement , states would receive $4.25B while the tribes would get $100M. The monies would be paid out over 13 years.
• The figure includes up to $1.2B of the overdose-reversal medication naloxone or cash representing 20% of the wholesale acquisition cost of the product -- $240M. Either option will be spread out over 10 years.
• Teva said the company and New York State are still in separate settlement negotiations.
• The agreement does not include any admission of wrongdoing. Teva hopes to have the settlement finalized in the next few weeks.
• Other pharmaceutical companies have made multi-billion-dollar opioid settlements in 2022 including Johnson & Johnson ( JNJ ) and Purdue Pharma . Wholesale drug distributors AmerisourceBergen ( ABC ), Cardinal Health ( CAH ), and McKesson ( MCK ) have also done so .

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