Citing the financial realities of defending itself, Allergan (NYSE:AGN) has agreed to pay $1.9M to Summit County, Ohio and $3.1M to Cuyahoga County, Ohio to settle all claims connected to the federal opioid multidistrict litigation that will start in October.
It is seeking indemnification from other parties related to one of its products involved in the suit, adding that it does not have liability for generic claims since those assets were sold to Teva Pharmaceutical Industries (NYSE:TEVA) in 2016. It has not marketed or promoted any opioids since 2013.
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