Teva Pharmaceutical Industries Ltd.'s stock opened up 20% Wednesday after the company announced it has reached a nationwide settlement agreement, in principle, to resolve its opioid litigation cases.
Under the proposed agreement with the working group of state attorneys general and plaintiffs’ lawyers representing states and subdivisions, Teva (NYSE: TEVA) will pay up to $4.25 billion — which includes payments in already settled cases — over 13 years.
Teva said it also reached an agreement…
