Drug firms offer to settle US opioid suits with US$50 billion package - sources

REUTERS: Five drugmakers and distributors are offering US$22 billion in cash as well as drugs and services they value at US$28 billion to resolve lawsuits alleging the industry helped fuel the U.S. opioid crisis, two sources familiar with the matter told Reuters on Wednesday.

Teva Pharmaceutical Industries Ltd has offered to give away medications it values at US$15 billion as part of the deal and provide distribution services it values in the billions, one of the people said. The negotiations are being led by the attorneys general for Texas, Tennessee, North Carolina and Pennsylvania, one person said.Teva and the three distributors are all defendants in a landmark trial set to begin in federal court in Cleveland, Ohio, on Monday. U.S. District Judge Dan Polster, who has long pushed for a global settlement of the litigation, will preside over the trial.

The sources cautioned that there was no guarantee a deal would be struck. One source said lawyers for the thousands of cities and counties with cases pending in federal court have not yet agreed to back the proposal the states are negotiating.

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