Allergan plc announced that the Company and its U.S. subsidiaries have reached a settlement with plaintiffs scheduled for trial in October 2019 in the federal opioid multidistrict litigation.
DUBLIN, Aug. 30, 2019 /PRNewswire/ -- Allergan plc (NYSE: AGN) today announced that the Company and its U.S. subsidiaries have reached a settlement with plaintiffs scheduled for trial in October 2019 in the federal opioid multidistrict litigation. As part of the agreement, Allergan will pay $1.9 million to Summit County, Ohio and $3.1 million to Cuyahoga County, Ohio. The settlement resolves all claims against Allergan in connection with the upcoming October 2019 Cleveland trial. 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. The Company is seeking indemnification from other parties relating to one of its products involved in the litigation. Allergan does not have liability for generic claims. All generic assets were sold to Teva in 2016.
Allergan has not actively marketed or promoted any opioid products since 2013. Allergan recognizes the seriousness of the opioid abuse problem. Allergan has a history of supporting -- and continues to support -- the safe, responsible use of prescription medications. This includes FDA approved opioid pain medications.
About Allergan plc
Allergan plc (NYSE: AGN), headquartered in Dublin, Ireland, is a global pharmaceutical leader focused on developing, manufacturing and commercializing branded pharmaceutical, device, biologic, surgical and regenerative medicine products for patients around the world. Allergan markets a portfolio of leading brands and best-in-class products primarily focused on four key therapeutic areas including medical aesthetics, eye care, central nervous system and gastroenterology. As part of its approach to delivering innovation for better patient care, Allergan has built one of the broadest pharmaceutical and device research and development pipelines in the industry.
With colleagues and commercial operations located in approximately 100 countries, Allergan is committed to working with physicians, healthcare providers and patients to deliver innovative and meaningful treatments that help people around the world live longer, healthier lives every day.
For more information, visit Allergan’s website at www.Allergan.com.
Forward-Looking Statement
Statements contained in this press release that refer to future events or other non-historical facts are forward-looking statements that reflect Allergan’s current perspective on existing trends and information as of the date of this release. Actual results may differ materially from Allergan’s current expectations depending upon a number of factors affecting Allergan’s business. These factors include, among others, the difficulty of predicting the timing or outcome of FDA approvals or actions, if any; the impact of competitive products and pricing; market acceptance of and continued demand for Allergan’s products; the impact of uncertainty around timing of generic entry related to key products, including RESTASIS®, on our financial results; risks associated with divestitures, acquisitions, mergers and joint ventures; risks related to impairments; uncertainty associated with financial projections, projected cost reductions, projected debt reduction, projected synergies, restructurings, increased costs, and adverse tax consequences; difficulties or delays in manufacturing; and other risks and uncertainties detailed in Allergan’s periodic public filings with the Securities and Exchange Commission, including but not limited to Allergan’s Annual Report on Form 10-K for the year ended December 31, 2018 and Allergan’s Quarterly Report on Form 10-Q for the period ended June 30, 2019. Except as expressly required by law, Allergan disclaims any intent or obligation to update these forward-looking statements.
CONTACTS:
Allergan:
Investors:
Manisha Narasimhan, PhD
(862) 261-7162
Christine Chiou
(862) 261-7396
Media:
Nicole Katz
Nicole.Katz@Allergan.com
(862) 261-7084
Samantha Gaspar
Samantha.Gaspar@Allergan.com
(617) 877-9710
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SOURCE Allergan plc
Company Codes: NYSE:AGN
