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Viatris Statement on Nationwide Settlement to Resolve Opioid-Related Claims
PITTSBURGH, April 7, 2025 /PRNewswire/ -- Viatris Inc. (Nasdaq: VTRS) (the "Company") today announced it has reached a nationwide settlement framework to
About this update from Viatris Inc.
[{"type":"text","content":"PITTSBURGH, April 7, 2025 /PRNewswire/ -- Viatris Inc. (Nasdaq: VTRS) (the \"Company\") today announced it has reached a nationwide settlement framework to resolve opioid-related claims by states, local governments, and Tribes against the Company and certain of its subsidiaries. While the Company's presence in the U.S. opioids market is very small, the Company has agreed to this settlement to provide closure on these matters. This settlement is in no way an admission of wrongdoing or liability.\n\n \n \n \n \n \n \n\n \nUnder the agreed upon framework, depending on the level of participation in the settlement, the Company would pay up to a maximum of $335 million, consisting of annual payments over a nine-year period of between approximately $27.5 and $40 million each, to help support state and local efforts to address opioid-related issues. The Company had already accrued an estimate in respect of a potential settlement, which is reflected in the Company's annual report on Form 10-K for the year ended December 31, 2024. \nThe Company will also continue its longstanding role of working to identify solutions to address pressing public health challenges like those relating to opioids. For example, the Company manufactures a generic injectable version of the life-saving overdose reversal drug, naloxone, as well as a generic buprenorphine/naloxone product used for the treatment of opioid addiction. The Company is also developing a novel delivery for meloxicam, a non-opioid pain medication.\nThe settlement enables the Company to further focus on its mission of empowering people worldwide to live healthier at every stage of life, advance its efforts to address unmet patient needs through an expanded innovative portfolio and continue to serve approximately 1 billion patients annually with its diverse portfolio of medicines.\nAbout ViatrisViatris Inc. (Nasdaq: VTRS) is a global healthcare company uniquely positioned to bridge the traditional divide between generics and brands, combining the best of both to more holistically address healthcare needs globally. With a mission to empower people worldwide to live healthier at every stage of life, we provide access at scale, currently supplying high-quality medicines to approximately 1 billion patients around the world annually and touching all of life's moments, from birth to the end of life...