Statement on Allergan Nationwide Settlement to Resolve Opioid-Related Claims
Allergan has agreed to a nationwide settlement today to resolve opioid-related claims with states and their respective subdivisions and special districts, provided that all conditions are satisfied. This settlement will provide up to $2.02 billion to help support state and local efforts to address opioid-related issues in the United States, as well as reimburse attorneys' fees and costs. This also resolves claims related to the generic prescription opioid business Allergan divested to Teva in 2016, as to which Allergan and Teva have resolved Teva's indemnification obligations. An accounting accrual for the settlement amount was previously recorded and disclosed for the second quarter of 2022. Previously, Allergan made the decision to voluntarily discontinue its branded prescription opioid business, which had a minimal market share of less than 1% of nationwide prescription, and Allergan did not fund any third-party pain organizations' opioid initiatives. Allergan's promotion and marketing of opioid medications were responsible and appropriate, and this settlement is not an admission of any wrongdoing.