Vermont is set to receive another substantial settlement in its ongoing work to hold pharmaceutical companies accountable for their role in the opioid crises, the Vermont Attorney General’s Office announced Friday, July 29. For the second time this week, a drug manufacturer, Abbvie, disclosed a proposed settlement to its investors in its earnings report released today. The proposed settlement will require Allergan, acquired by Abbvie in 2020, 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.
“The settlement frameworks announced with Teva and Allergan this week have the potential to provide critically needed resources to help Vermont address the opioid crisis,” said Attorney General Young. “While key details need to be finalized, this is an important step in the Office’s ongoing effort to hold industry accountable for its role in promoting and profiting from the opioid crisis.”
Ireland-based Allergan formerly made Norco- and Kadian-branded and generic opioids. The company sold its generics portfolio, including opioid products, to Teva in 2016. Teva and the attorneys general announced earlier this week that they had reached an agreement in principle to provide up $4.25 billion to address its part in the opioid crisis. The Teva agreement in principle is contingent, in part, on Allergan reaching its own settlement with the states.
The coalition of states alleged that Allergan:
- Deceptively marketed opioids by downplaying the risk of addiction, overstating their benefits, and encouraging doctors to treat patients showing signs of addiction by prescribing them more opioids; and
- Failed to maintain effective controls to prevent diversion of opioids.
The $2.37 billion figure includes money that Allergan has already agreed to pay under settlements with individual states.
Both settlements with Teva and Allergan remain contingent on resolution of key issues, including 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.
Categories: Drugs and Crime
Vermont’s democrat Attorney General makes a name for himself by suing pharmaceutical companies…meanwhile a democrat administration promotes an open southern border which allows the flow of tons of synthetic opioids MUCH stronger than oxycontin to kill over 100 thousand American annually. Instead of mostly useless treatment programs, the money reaped from these suits ought to instead go primarily to compensate crime victims targeted by junkies who finance their habits by preying upon others and to bolstering police services.
What about pay retailers for stolen goods insteady of having taxpayers cover that tab? What about a great drug prevention message to keep teens from starting marijuana, dabs, and then step up to opioids? In every commercialized cannabis state there has been a marked increase in opioid use/deaths.
It also reflects on Vermont’s eagerness to embrace commercialized cannabis that will encourage new users – especially teens – that become new users of other drugs, too. All of this adds up to more crime and violence – Burlington is a good case in point.
part of the problem is the overpriced drugs our western civ pushes on people for all kinds of things a little common sense would solve…….gotta be makin some very big bucks make settlements like this……so lets go to the route of this particular problem of being ripped off in the first place. I wonder what pharm the border drugs are coming from???
Please use some of the money to help those who have become addicted. Vermont needs long term recovery facilities. Stop filling up the jails and get the people some help.
The prison industry loves drug users and unwanted children. Keep those cells AND stockholders’ pockets full.
It’s the amerikan way.
Scab of a nation, drivenn insane