Civil Plaintiff
Florida Agrees to an $878 Million Settlement With CVS, Teva, and Others
Florida has reached more than $878 million in settlements with CVS Health Corp (CVS.N) and three drug companies to resolve claims and avert a trial next month over their roles in fueling an opioid epidemic in the third most populous U.S. state.
CVS will pay $484 million, Teva Pharmaceutical Industries Ltd (TEVA.TA) will pay $194.8 million, Abbvie Inc’s (ABBV.N) Allergan unit will pay $134.2 million and Endo International Plc (ENDP.O) will pay $65 million, Florida’s attorney general Ashley Moody said in a statement on Wednesday.
Most of the money will be spent on opioid abatement. Teva will also provide $84 million of its generic Narcan nasal spray, which can temporarily reverse the effects of opioid overdoses.
