AbbVie unit Allergan in $2B opioid settlement with state, local governments - Bloomberg

Jul. 27, 2022 5:29 PM ETAbbVie Inc. (ABBV)TEVABy: Jonathan Block, SA News Editor13 Comments

Allergan headquarters building exterior. Allergan plc is an American, Irish domiciled pharmaceutical company. - Pleasanton, California, USA - 2020

Michael Vi

  • Allergan, a subsidiary of AbbVie (NYSE:ABBV), has agreed to a $2B settlement with state and local governments that would end thousands of lawsuits related to its opioid Kadian (morphine sulfate), Bloomberg reported.
  • More than 3K lawsuits would be settled under the arrangement. Details are still being worked out with a federal court in Cleveland.
  • In December, Allergan reached a $200M opioid settlement with New York State.
  • Teva Pharmaceutical (TEVA) on Tuesday announced a $4.35B settlement.

Recommended For You

Comments (13)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.