Michigan Attorney General Dana Nessel on Thursday announced progress on terms of a settlement with Teva Pharmaceuticals for their role in the opioid epidemic.
Teva Pharmaceuticals has agreed in principle to a framework for a $4.25 billion national settlement to be paid over a period of time. While specific details are yet to be finalized, the settlement will provide critically needed additional resources to combat the opioid crisis.
“My department continues to work to hold accountable those who contributed to the opioid crisis and its impact on Michigan communities and residents,” said Nessel. “This agreement will add to the relief from previous settlements and support our communities in pursuing treatment and programs to help mitigate the impact of opioids.”
States and subdivisions that have not yet reached a settlement with the company will be eligible to participate. The deal also includes an option for each participating state to accept a share of $1.2 billion of Teva’s generic naloxone product or cash in lieu of the product. Naloxone is used to counteract opioid overdoses.
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