Teva Enters Into Agreement With San Francisco To Settle Opioid-Related Claims

Teva Pharmaceutical Industries Ltd. (TEVA) said it has entered into an agreement with the City and County of San Francisco and the People of the State of California that settles opioid-related claims asserted on behalf of the County and City of San Francisco.

The settlement will provide San Francisco $24.8 million over 13 years, as well as life-saving medicine generic Narcan, valued at $20 million, over 10 years.

In November 2021 a Superior Court judge in California found that Teva did not cause a public nuisance in Orange County, Los Angeles County, Santa Clara County and the City of Oakland, nor wrongfully promote opioid products in the state.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Integrated energy company Chevron reported Friday that profit for the fourth quarter increased 25 percent from last year, reflecting 17 percent revenue growth amid higher realizations and higher margins on refined product sales. Adjusted earnings per share missed analysts' estimates, while quarterly revenues topped it. Reno, Nevada-based ZLINE Kitchen and Bath has expanded its recall of gas ranges citing serious risk of injury or death from carbon monoxide poisoning, the U.S. Consumer Product Safety Commission announced. The recall now includes about 30,000 units of ZLINE gas ranges, including about 28,000 units... The Food and Drug Administration's independent advisory committee unanimously recommended replacing the current original COVID vaccines used in the U.S. for primary shots with new bivalent omicron shots authorized as boosters, reports said. The committee also considered the proposal for annual COVID vaccination, however, didn't vote on it.
Follow RTT