LAS VEGAS (KLAS) – Nevada will receive approximately $193 million from Teva Pharmaceuticals after the company agreed to a settlement regarding its role in the opioid epidemic, according to Nevada Attorney General Aaron Ford.
“This settlement is the most recent example of my office’s work to hold accountable those who contributed to the opioid epidemic facing Nevadans,” Ford said. “I am proud of the work that my office has done in this fight. The money coming into Nevada from these settlements will help our state recover and will help resources flow to the Nevadans impacted by this epidemic.”
Teva will make annual payments to Nevada beginning in July 2024 through July 2043. The payments will increase on a sliding scale, beginning at $7 million and increasing to $9 million in 2037 and $27 million in 2042. The money will be divided between the state and the signatories of the One Nevada Agreement on Allocation of Opioid Recoveries.
In addition, the settlement also requires Teva to ban the promotion of opioids and opioid products; to develop and implement monitoring programs, including for off-label use of opioids and to provide regular training to its employees.
The total now stands at $856 million in opioid litigation-related monies coming to Nevada over time.
