Nevada AG announces $193M opioid settlement with Teva pharmaceuticals

Aaron Ford
Aaron Ford(FOX5)
Published: Jun. 7, 2023 at 2:20 PM PDT
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LAS VEGAS, Nev. (FOX5) - Nevada Attorney General Aaron D. Ford announced that Nevada will receive approximately $193 million from Teva Pharmaceuticals after the company agreed to a settlement regarding its role in the opioid epidemic. With this settlement, the Office of the Attorney General has brought in a gross amount of $856 million in opioid litigation-related monies to Nevada.

“This settlement is the most recent example of my office’s work to hold accountable those who contributed to the opioid epidemic facing Nevadans,” said AG Ford. “I am proud of the work that my office has done in this fight. The money coming into Nevada from these settlements will help our state recover and will help resources flow to the Nevadans impacted by this epidemic.”

According to a release from the Attorney General’s office, Teva will make annual payments to Nevada beginning in July 2024 through July 2043. These payments will increase on a sliding scale, beginning at $7 million and increasing to $9 million in 2037 and $27 million in 2042. The money will be divided between the state and the signatories of the One Nevada Agreement on Allocation of Opioid Recoveries.

The settlement includes injunctive relief terms to stop the possible misuse of opioids. In addition to the monetary relief, the settlement requires Teva, among other things, to ban the promotion of opioids and opioid products; to ban financial incentives for the sale of opioids; to ban funding to third parties that promote opioids; to impose lobbying restrictions; to develop and implement monitoring programs, including for off-label use of opioids; to ban prescription savings programs for opioids; to monitor and report downstream customers with risks of diversion of opioids; and to provide regular training to its employees.

The state, along with all Nevada counties and cities that currently have active litigation against opioid companies, came to an agreement on the intrastate allocation of funds from opioid-related recoveries. This One Nevada Agreement on Allocation of Opioid Recoveries “provides a framework for how funds from any Nevada opioid-related settlement will be fairly and equitably allocated among the state and various local governmental entities and used to remediate the harms, impact and risks caused by the opioid epidemic in the state,” according to the release.

In 2021, the Legislature created the Fund for a Resilient Nevada, which directs state opioid recoveries to fund evidence-based programs through the Nevada Department of Health and Human Services. The law required the state to develop a State Needs Assessment which identifies the critical needs for attacking the impacts and effects of opioids throughout the entire state, and a State Plan for prioritizing funding for the needs identified in said assessment.

The Needs Assessment and Plan can be found here.