Teva Stresses Stability In Settling Oklahoma Opioids Case
Teva says paying $85m to settle claims it contributed to opioid abuse in Oklahoma is important in maintaining the stability of the heavily indebted group.
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Teva's business appears to be stabilizing but the company needs to resolve outstanding opioid liability litigation. CEO Schultz said he is hopeful a national settlement framework will be finalized.
Investors may have more clarity on Teva's long-term outlook if the generic drug maker reaches a settlement in a big opioid case before it goes to trial in Ohio next week.
Increasing uncertainty over Teva's liability in opioid litigation is weighing on the generic drug manufacturer, even as the North American generics business stabilized in the second quarter.