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Drug companies avert landmark opioids trial as talks on US$48 billion settlement set to resume

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Four large drug companies reached a last-minute US$260 million legal settlement on Monday over their role in the U.S. opioid addiction epidemic, ...

CLEVELAND: Four large drug companies could resume talks on Tuesday to try to reach a US$48 billion settlement of all opioid litigation against them, after agreeing with two Ohio counties to a US$260 million deal to avert the first federal trial over their role in the U.S. opioid epidemic.

Teva, the world's largest maker of generic drugs, said it will make its contribution over three years.The companies have been accused of fueling a nationwide opioid crisis. Some 400,000 U.S. overdose deaths between 1997 and 2017 were linked to opioids, according to government data. Teva and attorneys general for four states pushed to salvage a deal they had reached last week, which was rejected by the team representing local governments.

Hanly said the attorneys general deal was spread over too many years to be acceptable. He said he did not expect the attorneys general to participate when talks resumed this week.

 

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