Thu. Nov 21st, 2019

Allergan settles with 2 Ohio plaintiffs in federal opioid litigation

1 min read

Allergan Plc

AGN, -0.20%

said Friday it has reached a settlement with two plaintiffs in Ohio in the federal litigation over opioids. The Dublin-based company said it will pay $1.9 million to Summit county, Ohio and $3.1 million to Cuyahoga County, Ohio to resolve all claims that were to have been part of a trial scheduled for October. “The company believes that settling with these plaintiffs is in its interest in light of anticipated time and defense costs for this first multi-defendant bellwether trial in the federal multidistrict litigation,” Allergan said in a statement. The company does not have liability for generic claims, it added, as those assets were sold to Teva

TEVA, +0.14%

in 2016. Allergan has not promoted or marketed any opioid products since 2013, it said. Shares were not yet active premarket, but have gained 19.5% in 2019, while the S&P 500

SPX, +1.27%

has gained 16.6%.

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