Viatris Inc. announced it has reached a nationwide settlement framework to resolve opioid-related claims brought by states, local governments, and Tribes. The company emphasized that its presence in the U.S. opioids market is very small, and the settlement provides closure on these matters without admitting wrongdoing or liability.
Under the agreed-upon framework, Viatris will pay a maximum of $335 million over a nine-year period. The annual payments will range between approximately $27.5 million and $40 million, intended to support state and local efforts to address opioid-related issues.
An estimate for this potential settlement had already been accrued and reflected in the company's annual report for the year ended December 31, 2024. This financial planning helps manage the impact of the settlement on the company's cash flow.
The settlement enables Viatris to further concentrate on its mission of empowering people worldwide to live healthier lives and advance its efforts to address unmet patient needs through an expanded innovative portfolio. The company also noted its role in manufacturing generic naloxone and buprenorphine/naloxone, and developing a non-opioid pain medication.
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