JERUSALEM, July 27 Reuters Teva Pharmaceutical Industries on Wednesday forecast midsingle digit revenue growth over the next five years as it strives to move on from its high debt and an overhang from thousands of lawsuits over its alleged role in the U.S. opioid crisis.

Israelbased Teva, the world39;s largest generic drugmaker, for the past five years has been hit hard by a weak U.S. generics market and stiff competition to its blockbuster multiple sclerosis drug Copaxone.

After years of negotiations, Teva on Tuesday proposed a 4.35 billion nationwide settlement mostly cash and partly medicines to resolve its opioid lawsuits. 

Teva in May said it expected a 2.6 billion settlement but chief executive Kare Schultz said the figure rose during negotiations with plaintiffs.

The agreement in principle should take a few weeks to finalize and then it needs a host of approvals before it takes effect, Schultz said on Wednesday.

He said that under terms of the agreement, it will cost the company between 300 million and 400 million annually over 13 years a sum shareholders deem as a relief as its shares were up more than 21.

The state of New York has not agreed to participate in the settlement, and continues to seek a judgment against Teva after a New York jury found the company responsible for the state39;s opioid crisis in December.

Schultz told Reuters he expects Teva to reach a settlement with New York in the coming weeks, and that the value of the New York settlement…