قالب وردپرس درنا توس
Home / Insurance / Teva expects to start paying US opioid settlement in 2023: CEO

Teva expects to start paying US opioid settlement in 2023: CEO



(Reuters) — Teva Pharmaceutical Industries expects to finalize an opioid settlement in the United States by the turn of the year and begin payments in 2023, its CEO said on Sunday, while confirming he was unlikely to renew his contract next year.

After years of negotiations, Israel-based Teva in July proposed a $4.35 billion nationwide settlement — mostly cash and part drugs that will total $300 million to $400 million over 13 years — to resolve its opioid lawsuits.

US states, cities and counties filed more than 3,000 lawsuits against opioid manufacturers, distributors and pharmacies, accusing them of reducing the risks of abuse and failing to stop pills from being diverted for illicit use.

CEO Kare Schultz said Teva was working on legal wording that should be ready by the end of this month. It then needs approval from states and subdivisions within states.

Teva has denied wrongdoing and said it was selling legal medicine that was approved to treat pain.

Schultz, who took over as CEO in December 201

7, confirmed he was unlikely to extend his contract, which expires on November 1, 2023. But he said he would like to remain on the company’s board.


Source link