Get 40% Off
🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

AbbVie's Allergan reaches $2 billion opioid lawsuit settlement - Bloomberg News

Published 07/27/2022, 06:18 PM
Updated 07/27/2022, 06:20 PM
© Reuters. FILE PHOTO: A screen displays the share price for drugmaker AbbVie on the floor of the New York Stock Exchange July 18, 2014.  REUTERS/Brendan McDermid/File Photo
TEVA
-
AGN
-
ABBV
-

(Reuters) - AbbVie Inc (NYSE:ABBV)'s unit Allergan (NYSE:AGN) has reached an agreement to pay over $2 billion to resolve thousands of lawsuits related to the marketing of its opioid painkiller, Bloomberg News reported on Wednesday, citing people familiar with the matter.

The deal would settle more than 3,000 lawsuits filed by state and local governments, but complete terms of the settlement are still being chalked out, according to the report. Thousands of lawsuits have been filed against drugmakers, distributors and pharmacies over the U.S. opioid crisis.

© Reuters. FILE PHOTO: A screen displays the share price for drugmaker AbbVie on the floor of the New York Stock Exchange July 18, 2014.  REUTERS/Brendan McDermid/File Photo

Israel-based Teva Pharmaceutical Industries (NYSE:TEVA) on Tuesday announced a $4.35 billion proposed nationwide settlement of its U.S. opioid lawsuits.

AbbVie did not immediately respond to a Reuters request for a comment.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.