Teva Pharmaceutical Industries (TEVA.TA) and AbbVie's Allergan unit on Tuesday reached a $58 million settlement with the city of San Francisco just before the completion of a trial over claims that they fueled an opioid epidemic in the city.
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Under the deal announced by City Attorney David Chiu, Israel-based Teva will pay $25 million in cash and contribute a $20 million supply of the overdose-reversal drug Narcan. AbbVie will pay $13 million.
"This will bring significant resources to help with education, prevention and treatment, and the addition of tens of millions of dollars worth of overdose reversal medication will save lives in the Bay Area," said Paul Geller, a lawyer who represented the city in negotiating the settlement.
Teva's settlement also resolves the city's claims against Teva-owned drug distributor Anda Inc.
San Francisco will receive $54 million, while $4 million will go toward attorneys' fees.
