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Oklahoma reaches $85 million settlement with Teva Pharmaceuticals ahead of trial

2019-05-27 00:38    Investing

Oklahoma reaches million settlement with Teva Pharmaceuticals ahead of trial Stock News

© Reuters. A man walks past the logo of Teva Pharmaceutical Industries at their plant in Jerusalem

(Reuters) - Oklahoma has reached a $85 million settlement agreement with Israeli-based Teva Pharmaceutical Industries (NYSE:TEVA) Ltd ahead of the start of a trial in a multibillion-dollar lawsuit over the opioid epidemic, the state's attorney general said on Sunday.

While the terms of the agreement may take up to two weeks to finalize, the money will go to the state and be used to abate the opioid crisis in Oklahoma, Attorney General Mike Hunter said in a statement.

An announcement of the specific terms of the agreement will be made at a later date, Hunter's statement said.

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