Wisconsin DOJ reaches preliminary agreement with opioid manufacturer

Generic opioid drugs
Generic opioid drugs(MGN)
Published: Jul. 27, 2022 at 10:03 PM CDT
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MADISON, Wis. (WMTV) - A preliminary agreement was reached between the Wisconsin Department of Justice and an opioid manufacturing company Wednesday to provide funds to address the opioid crisis.

The Wisconsin DOJ stated that the agreement in principal with Teva was made on key financial terms and will provide up to $4.25 billion over 13 years to states and local governments participating in the settlement.

“Our efforts to pursue accountability from companies whose unlawful conduct contributed to the opioid crisis continue,” Evers said. “This agreement, if finalized, will mark another significant step forward in bringing resources to Wisconsin for fighting this epidemic.”

Several states allege that the company promoted fentanyl products for non-cancer patients to use, deceptively marketed opioids and failed to follow suspicious monitoring requirements with distributor Anda.

Teva will also give up to $1.2 billion worth of generic naloxone, which is used to stop overdoses, over a 10-year period or $240 million in cash instead of the product.

The DOJ explained that the critical details of the settlement are still in negotiations.

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