Wisconsin Health News
The Wisconsin Department of Justice has reached an agreement in principle on the financial terms of a settlement with opioid-maker Teva that would provide up to $4.3 billion to participating state and local governments over 13 years.
Wisconsin is one of a dozen states leading negotiations with the Israel-based drugmaker over its alleged role in the opioid epidemic.
“Our efforts to pursue accountability from companies whose unlawful conduct contributed to the opioid crisis continue,” Attorney General Josh Kaul said in a statement. “This agreement, if finalized, will mark another significant step forward in bringing resources to Wisconsin for fighting this epidemic.”
The settlement is subject to ongoing negotiations. Details like the amount that will head to the state are still being worked out, per a Department of Justice spokeswoman.
Teva makes fentanyl products for cancer pain and generic opioids, including oxycodone.
The states alleged the company promoted fentanyl products for use by non-cancer patients, deceptively marketed opioids and failed to comply with suspicious order monitoring requirements.
As part of the agreement, Teva would provide up to $1.2 billion in generic naloxone over a 10-year period or $240 million in cash. The final settlement depends on complying with critical business practice changes and transparency requirements, according to the department’s statement.
The agreement would also provide $100 million for Native American tribes over 13 years, according to a Teva statement on its second quarter financial results.
The company expects the agreement to be finalized in the coming weeks, with a nationwide settlement sign-on process to follow.
“While the agreement will include no admission of wrongdoing, it remains in our best interest to put these cases behind us and continue to focus on the patients we serve every day,” the company said.