Letitia James
New York State Attorney General Letitia James has secured up to $523 million from Teva Pharmaceuticals for its role in the opioid crisis.
The settlement is the largest reached with an individual opioid defendant by Attorney General James and raises the total amount secured from opioid manufacturers and distributors to more than $2 billion to combat the opioid crisis.
The settlement resolves Attorney General James’ claims against Teva, the final remaining defendant not currently in bankruptcy and concludes the Attorney General’s litigation against opioid manufacturers and distributors.
Teva Pharmaceuticals USA, Inc. and its affiliates were found liable last year for public nuisance charges by a jury on Long Island. To resolve the remedies phase, Teva agreed to pay out $313 million over 18 years.
According to James, New York will additionally receive $211 million from a $4.3 billion national settlement Teva agreed to in July if it is approved by state and local governments and tribes.
The agreement includes a prohibition on marketing opioids, restrictions on political lobbying and a ban on high-dose opioids.
New York created a settlement fund to earmark the money for abatement, treatment, and prevention efforts in hard-hit communities.
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