Tuesday, February 21, 2012

Propofol maker Teva to pay $250 million to settle Nevada lawsuits - ReviewJournal.com

Teva Pharmaceutical Industries will pay more than a quarter-billion dollars to settle close to 200 lawsuits stemming from Southern Nevada's hepatitis C outbreak.

The international generic drug-making giant reached an agreement late last week to settle with 41 plaintiffs represented by lawyers Robert Eglet and Will Kemp, who were in the middle of their third trial against Teva.

"It's been resolved," Kemp said.

The agreement was reached after several long days of talks under the direction of Chief District Judge Jennifer Togliatti.

Teva had previously settled about 120 cases, including those being handled by lawyers Ed Bernstein and Gerald Gillock.

The company had paid or set aside about $270 million to cover the lawsuits filed in Nevada, according to a Friday filing with the U.S. Securities and Exchange Commission.

The company will pay another $15 million this financial quarter, Teva USA spokeswoman Denise Bradley said in an email.

Posted via email from Jack's posterous

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