Teva Seeks Global Resolution Of Opioid Litigation
Bellwether Trial In US Is Halted By Settlement Agreement
Teva and three distributors settle with two plaintiffs; PBMs are defendants in next case as Teva also reaches an agreement in principal with four attorneys general for global settlement framework.
You may also be interested in...
Teva says it remains hopeful that it can resolve US price-fixing allegations “in a positive way” with the US Department of Justice, but acknowledges that the matter could go all the way to trial.
Teva has expanded on plans to improve its profit margins after emerging from a years-long restructuring program that has cut its cost base by over $3bn. The Israeli company reported first-quarter sales ahead by 5% to $4.36bn, seeing a “mixed bag” effect from the COVID-19 pandemic as well as positive results from new launches including two US biosimilars.
Despite seeing an 8% drop in global turnover in 2019, an upbeat Teva says the completion of its restructuring plan has positioned the company to increase its turnover through newly-launched products – including biosimilars, brands and new generics – as well as improve its profit margins through manufacturing optimization.