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