Oklahoma Judge Wants More Details On Teva’s Opioid Settlement
An Oklahoma judge is withholding approval of the state’s proposed $85m out-of-court opioid settlement with Teva until he gets assurances that it complies with state law.
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Potential liability in US litigation is acting as a lag on valuations for listed generics players and creating market volatility, Wall Street analyst Randall Stanicky says. But while industry faces many challenges, voices of optimism were also raised during the opening to the joint annual conference of Medicines for Europe and the IGBA.
In opening statements, Oklahoma suggests award could be 'just shy of $13bn' if it takes 20 years to fix the problem.
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.