Vivera Offers Solution Beyond Teva's Recent $4.35B Opioid Settlement
NEWPORT BEACH, Calif., Aug. 4, 2022 /PRNewswire/ -- Amid government settlement discussions with Teva Pharmaceuticals regarding its potential role in the opioid crisis, Vivera invites Teva to join as a partner in the development of ZICOH, the Company's patented, dose-controlled, electronic drug delivery medical device designed to solve the opioid crisis.
This invitation comes after Teva Pharmaceuticals reached a proposed settlement of over $4 billion for its alleged role in the opioid crisis.
State and local governments sued Teva for its role in the ongoing opioid epidemic, claiming that the pharmaceutical Company based out of Israel promoted Actiq, Fentora, and oxycodone, prescription opioids indicated to manage cancer-related pain, for use for non-cancer purposes. They also argued that the prescription drug manufacturer downplayed the possibility of abuse of and addiction to these drugs.
The settlement would require Teva to pay state and local governments up to $3.7 billion. The Company has also agreed to donate $1.2 billion worth of Narcan Nasal Spray, a potentially lifesaving medication that can help reverse an opioid overdose. Additionally, it will pay approximately $100 million to Native American Tribes.
Now, it's up to the state and local governments, along with the involved Native American Tribes, to accept the settlement. If accepted, Teva will honor the settlement terms over a period of 13 years.
While this settlement is intended to provide critical resources to the states and communities affected most by the opioid crisis, Vivera claims that it does little to control the prescription drug supply chain or prevent future addiction.
"We have lost enough lives to the opioid crisis," said Paul Edalat, Chairman and CEO of Vivera. "Spending money on the aftermath of prescription drug addiction and diversion costs billions annually and isn't a long-term solution. It's a Band-Aid for the problem. To tackle the escalating crisis, we need to prevent addiction from occurring in the first place. Vivera invented ZICOH to do just that. I welcome an open forum discussion between all Company leaders to join us in the fight to end addiction."
Vivera's high-tech ZICOH device utilizes proprietary software to enable effective communication through the drug supply chain. It can be programmed to dispense the medication dosage amount, type, and frequency to patients according to the health care provider's orders. Each feature helps to ensure patient compliance to potentially prevent the risk of addiction, diversion, and overdose.
"At its core, ZICOH is being developed to save lives," said Mehdi Hatamian, Ph.D., Chief Scientific Advisor for Vivera. "The opioid crisis has caused more than half a million overdose deaths over the past two decades. More than 80,000 occurred in 2021, insisting that the situation isn't getting any better. It's time to implement a solution that enables patients to get the medication they need without contributing to lives lost to opioid overdose and addiction."
A few months ago, Vivera extended the same offer to partner on ZICOH to large corporations, including AmerisourceBergen, Cardinal Health, McKesson, Johnson & Johnson, and Purdue Pharma, which are currently under scrutiny for their alleged role in the opioid crisis. To date, none of the companies have taken Vivera up on its offer.
Vivera Pharmaceuticals is an innovative, science-driven pharmaceutical company located in Southern California. The Company has global exclusivity to license the patented and patent-pending TABMELT sublingual drug delivery system for pharmaceutical use and holds its own issued patents on ZICOH, a smart dose-controlled electronic medical device. The Company has also received a Notice of Allowance for its portable telemedicine station, MDZone. With multiple divisions, including its pharmaceutical, neurosciences, medical technology, biosciences, and advanced diagnostics divisions, Vivera Pharmaceuticals is vertically integrated with patented technology, manufacturing capabilities, and distribution for its products.
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Contact:
Ashley LeVine
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SOURCE Vivera Pharmaceuticals, Inc.
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