Report: Teva may donate $15B in generic drugs to resolve opioid lawsuits

Oct. 17, 2019

With several major pharma companies staring down the start of a federal trial related to opioids, Teva Pharmaceuticals is reportedly looking to settle by donating $15 billion in drugs.

According to Reuters, who cited “a source familiar with the matter,” Teva is floating a 10-year plan that would involve a donation of generic drugs, including medications that reverse opioid overdose, to settle the cases.

A major trial involving Teva and several other defendants is scheduled to begin in Ohio on Oct. 21. The judge overseeing the trial is one of many who have been pushing for a global settlement to resolve the thousands of cases being levied against pharma companies and distributors.

Earlier this week, reports surfaced that several key drug distributors — including AmerisourceBergen Corp. and McKesson Corp — are in talks to settle their lawsuits for $18 billion. If the distributors and Teva secure settlement deals, the remaining defendants in the Ohio trial would be Walgreens Boots Alliance and Henry Schein Inc.

Purdue Pharma, which is facing its own mountain of opioid lawsuits, has also been floating a $10 billion settlement plan. Johnson & Johnson has reportedly also said it is willing to pay $4 billion to settle its suits.   

Read the full Reuters report.