Nevada settles Teva Pharmaceuticals in latest opioid settlement

Tim Saunders/WDBJ7
Tim Saunders/WDBJ7(WDBJ)
Published: Jun. 7, 2023 at 1:46 PM PDT
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RENO, Nev. (KOLO) - Nevada Attorney General Aaron Ford announced a new settlement for $193 million with Teva Pharmaceuticals over opioids.

“This settlement is the most recent example of my office’s work to hold accountable those who contributed to the opioid epidemic facing Nevadans,” said Ford. “I am proud of the work that my office has done in this fight. The money coming into Nevada from these settlements will help our state recover and will help resources flow to the Nevadans impacted by this epidemic.”

The company will make annual payments to Nevada starting in July 2024 and running through July 2043. The payments will increase on a sliding scale, starting at $7 million and increasing to $9 million in 2037 before going up again to $27 million in 2042. The money will be divided between the state and the signatories of the One Nevada Agreement.

The settlement includes injunctive relief terms to stop the possible misuse of opioids. The settlement will also require Teva to ban the promotion of opioids and opioid products.