“The company is pleased to positively contribute to solving the nationwide opioid epidemic. Teva has consistently committed to complying with all laws and regulations regarding its manufacture and sale of opioids. Neither settlement includes an admission of liability,” it said.
Following its announcement of the opioid settlements, TEVA shares increased by more than 8 percent to $8.15 each.
Teva is the world’s largest provider of generic medicines.
Other pharmaceutical companies aim to reach a global opioid settlement
Meanwhile, U.S. pharmaceutical companies, AmerisourceBergen (NYSE: ABC), Cardinal Health (NYSE: CAH) and McKesson (NYSE: MCK) also reached a settlement agreement with the two Ohio counties.
The three drug companies agreed to a $215 million opioid settlement despite the fact they “strongly dispute the accusations” of Cuyahoga and Summit counties.
AmerisourceBergen, Cardinal Health and McKesson believe that “settling the bellwether trial is an important stepping stone to achieving a global resolution and delivering meaningful relief.”
