By Michael Dabaie


Teva Pharmaceutical Industries Ltd. said it reached an agreement with the attorney general of Florida to settle opioid-related claims.

The generic and specialty medicines company said Wednesday the settlement will provide Florida $177 million over 15 years, as well as generic Narcan, or naloxone hydrochloride nasal spray, valued at $84 million over 10 years.

Teva ADRs were up 2.4% to $9.02 premarket.

"Today's settlement with the state of Florida is another critical step forward in getting life-saving treatments to people suffering from opioid addiction," the company said.

Teva said the settlement agreement isn't an admission of any liability or wrongdoing. The company said it will continue to defend itself in court in states where it hasn't reached an agreement.

CVS Health Corp. on Wednesday said it reached a $484 million opioid settlement agreement with Florida.


Write to Michael Dabaie at michael.dabaie@wsj.com


(END) Dow Jones Newswires

03-30-22 0940ET