TBA Law Blog


Posted by: Stacey Shrader Joslin on Jul 29, 2022

Attorney General Herbert H. Slatery III and a bipartisan group of attorneys general announced an agreement in principle to address the opioid crisis for the second time this week. The proposed settlement would require former opioid maker Allergan to pay up to $2.37 billion to participating states and local governments. If finalized, the Allergan settlement, together with the Teva Pharmaceuticals settlement announced earlier this week, would provide as much as $6.6 billion nationwide. Abbvie, which acquired Allergan in 2020, disclosed the agreement in its earnings released today. Both settlements remain contingent on resolution of details regarding the settlement structure, which is expected to build on the framework developed in prior nationwide opioid settlements. The parties are also negotiating terms requiring business practice changes and transparency.