Texas Settles With the Drugmaker Teva For $225 Million
Attorney General Ken Paxton announced Monday that the state and Teva Pharmaceutical Industries reached a $225 million settlement related to claims that the drugmaker contributed to Texas’ opioid crisis.
Teva agreed to pay $150 million over 15 years, as well as provide $75 million worth of generic Narcan, an intervention medication used to reverse the effects of opioid overdoses. Narcan can counter often fatal effects of most prescription opioid pain relievers, as well as street drugs like heroin and fentanyl.
“This agreement is not only another win for Texas, but a major step in the right direction to help people overcome opioid addiction,” Paxton said in a statement. “Pharmaceutical companies must be held accountable for their role in this devastating epidemic. These resources will be used to fund recovery initiatives that will help countless Texans.”