Teva, others settle Ohio opioid cases; Q3 earnings; First in Human

Summit county executive Ilene Shapiro speaks to media at the U.S. Federal courthouse in Cleveland on Oct. 21, where a high profile trial examining pharmaceutical companies' role in the opioid epidemic was expected to take place. Source: AP Photo

Four companies cited in a lawsuit from counties in Ohio seeking to place blame for the ongoing opioid epidemic have settled the so-called bellwether case for a total of $265 million, attorney Hunter Shkolnik, who represents the counties, told S&P Global Market Intelligence.

Drug manufacturer Teva Pharmaceutical Industries Ltd. will pay $20 million up front, plus provide $25 million worth of the opioid addiction treatment Suboxone. The company is also nearing a comprehensive deal worth about $23 billion that would settle all cases being levied against it.