Civil Plaintiff

Amneal Settles Opioid Lawsuits For $272.5 Million

Amneal Pharmaceuticals has agreed to pay $272.5 million to settle approximately 900 lawsuits brought by state, local and Native American jurisdictions claiming that the New Jersey generics producer fueled the opioid crisis by failing to act on suspicious opioid orders.

Amneal revealed the settlement in its quarterly earnings presentation on Friday. Without admitting wrongdoing, the company said will make payments over the next 10 years, including $92.5 million in cash and $180 million worth of naloxone, the generic name of Emergent BioSolutions’ Narcan, a nasal spray that can quickly reverse the effects of an opioid overdose and restore breathing.

Instead of accepting the product, parties can opt to receive 25% of the product’s value up to $45 million over the last four years of the agreement, Amneal added. The company values a naloxone two-pack at $125.

Read more at Fierce Pharma

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