Teva Finalizes Nationwide Opioid Settlement Terms
22 Novembro 2022 - 10:30AM
Business Wire
Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical
Industries Ltd. (NYSE and TASE: TEVA), announced today that the
company has finalized the documentation of its proposed nationwide
opioid settlement with both the working group of States’ Attorneys
General and the Multi-District Litigation Plaintiffs’ Executive
Committee. Allergan has also finalized its settlement terms. As
announced during the Company’s third quarter earnings call, Teva
and Allergan have resolved their dispute with respect to Teva's
indemnification obligations.
The sign-on process for states will now begin, followed by a
similar sign-on process for the states’ subdivisions and special
districts.
Given the high participation rate in other nationwide opioids
settlements -- and Teva’s settlements with Texas, Florida,
Louisiana, Rhode Island, West Virginia, San Francisco and New York
-- we remain optimistic that a high participation rate in this
nationwide settlement will be achieved, enabling us to put these
cases behind us and continue to focus on the patients we serve
every day.
About Teva
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) has
been developing and producing medicines to improve people’s lives
for more than a century. We are a global leader in generic and
specialty medicines with a portfolio consisting of over 3,500
products in nearly every therapeutic area. Around 200 million
people around the world take a Teva medicine every day, and are
served by one of the largest and most complex supply chains in the
pharmaceutical industry. Along with our established presence in
generics, we have significant innovative research and operations
supporting our growing portfolio of specialty and biopharmaceutical
products. Learn more at www.tevapharm.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, which are based on management’s current beliefs and
expectations and are subject to substantial risks and
uncertainties, both known and unknown, that could cause our future
results, performance or achievements to differ significantly from
that expressed or implied by such forward-looking statements.
Important factors that could cause or contribute to such
differences include risks relating to:
- our ability to obtain sufficient participation of plaintiffs
for the nationwide opioid settlement to take effect;
- compliance, regulatory and litigation matters, including:
failure to comply with complex legal and regulatory environments;
scrutiny from competition and pricing authorities around the world,
including our ability to successfully defend against the U.S.
Department of Justice criminal charges of Sherman Act violations;
potential liability for patent infringement; product liability
claims; failure to comply with complex Medicare and Medicaid
reporting and payment obligations; compliance with anti-corruption
sanctions and trade control laws; environmental risks; and the
impact of ESG issues;
- our ability to successfully compete in the marketplace,
including: that we are substantially dependent on our generic
products; consolidation of our customer base and commercial
alliances among our customers; delays in launches of new generic
products; the increase in the number of competitors targeting
generic opportunities and seeking U.S. market exclusivity for
generic versions of significant products; our ability to develop
and commercialize biopharmaceutical products; competition for our
specialty products, including AUSTEDO®, AJOVY® and COPAXONE®; our
ability to achieve expected results from investments in our product
pipeline; our ability to develop and commercialize additional
pharmaceutical products; and the effectiveness of our patents and
other measures to protect our intellectual property rights;
- our substantial indebtedness, which may limit our ability to
incur additional indebtedness, engage in additional transactions or
make new investments, may result in a further downgrade of our
credit ratings; and our inability to raise debt or borrow funds in
amounts or on terms that are favorable to us;
- our business and operations in general, including: uncertainty
regarding the COVID-19 pandemic and the governmental and societal
responses thereto; our ability to successfully execute and maintain
the activities and efforts related to the measures we have taken or
may take in response to the COVID-19 pandemic and associated costs
therewith; effectiveness of our optimization efforts; our ability
to attract, hire and retain highly skilled personnel; manufacturing
or quality control problems; interruptions in our supply chain;
disruptions of information technology systems; breaches of our data
security; variations in intellectual property laws; challenges
associated with conducting business globally, including political
or economic instability, major hostilities or terrorism; costs and
delays resulting from the extensive pharmaceutical regulation to
which we are subject or delays in governmental processing time due
to travel and work restrictions caused by the COVID-19
pandemic;
- the effects of reforms in healthcare regulation and reductions
in pharmaceutical pricing, reimbursement and coverage; significant
sales to a limited number of customers; our ability to successfully
bid for suitable acquisition targets or licensing opportunities, or
to consummate and integrate acquisitions; and our prospects and
opportunities for growth if we sell assets;
- other financial and economic risks, including: our exposure to
currency fluctuations and restrictions as well as credit risks;
potential impairments of our intangible assets; the impact of other
macroeconomic developments such as rising inflation and
geopolitical conflicts including the ongoing conflict between
Russia and Ukraine; potential significant increases in tax
liabilities (including as a result of potential tax reform in the
United States); and the effect on our overall effective tax rate of
the termination or expiration of governmental programs or tax
benefits, or of a change in our business; and other factors
discussed in this press release, in our Quarterly Report on Form
10-Q for the third quarter of 2022 and in our Annual Report on Form
10-K for the year ended December 31, 2021, including in the
sections captioned "Risk Factors” and “Forward Looking Statements.”
Forward-looking statements speak only as of the date on which they
are made, and we assume no obligation to update or revise any
forward-looking statements or other information contained herein,
whether as a result of new information, future events or otherwise.
You are cautioned not to put undue reliance on these
forward-looking statements.
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IR United States Ran Meir (267) 468-4475
Israel Yael Ashman 972 (3) 914-8262
PR United States Kelley Dougherty (973)
658-0237
Israel Eden Klein +972-50-4019959
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