Teva Pharmaceutical Industries will pay up to $523 million to New York State as part of a nationwide settlement of lawsuits alleging the company helped fuel the US opioid epidemic.
Teva CEO Kare Schultz said that despite sanctions, Teva still sells medications to Russia, because this is a humanitarian move. He also revealed that Teva donates medicines to Ukraine.
The US opioid crisis has caused more than 500,000 overdose deaths over the past two decades, including more than 80,000 in 2021 alone.
The litigation has resulted in several nationwide settlements, including a $4.25 billion settlement with Israel-based Teva Pharmaceutical Industries
AION Labs brings together some of the biggest names in pharma, including AstraZeneca, Merck and Pfizer, and aMoon is Israel’s largest health-tech fund.
The US opioid crisis has caused more than 500,000 overdose deaths over the past two decades, including more than 80,000 in 2021 alone.
The agreement is the largest state-negotiated settlement in West Virginia history and consists of $134 million in cash plus the contribution of drugs used to treat opioid overdoses.
Two doctors sued Teva for failing to acknowledge their contributions and demanded to be compensated with royalties stemming from the new version of copaxone.
Many of them are not Jewish and are therefore ineligible for access to universal healthcare in Israel.
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