AbbVie’s Allergan Reaches $2 Billion Opioid Lawsuit Settlement
(Reuters) – AbbVie Inc’s device Allergan has reached an settlement to pay out about $2 billion to solve thousands of lawsuits connected to the marketing of its opioid painkiller, Bloomberg News reported on Wednesday, citing individuals familiar with the make a difference.
The offer would settle extra than 3,000 lawsuits submitted by point out and regional governments, but complete terms of the settlement are continue to currently being chalked out, according to the report. Hundreds of lawsuits have been submitted versus drugmakers, distributors and pharmacies about the U.S. opioid crisis.
Israel-based mostly Teva Pharmaceutical Industries on Tuesday declared a $4.35 billion proposed nationwide settlement of its U.S. opioid lawsuits.
AbbVie did not right away react to a Reuters request for a comment.
(Reporting by Amruta Khandekar Editing by Krishna Chandra Eluri)