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.
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Zydus says its Moraiya plant should be ready for re-inspection at the end of June 2020, following a recent FDA warning letter. Meanwhile, as returns from levorphanol fall on the back of increased competition, the firm has written down investment by $37.5m causing Q2 profits to slump 74%. Post successful Phase II trials in the US for NASH and NAFLD indications, its hopes are now pinned on saroglitazar magnesium.
Teva says it is on track to achieve both its sales targets and its restructuring goals as it prepares to enjoy the benefits of being first to market with a rituximab biosimilar in the US.
Trial opens after settlement proposals by three distributors, Teva and J&J fail to gain support of cities and counties. Distributors want to call former FDA Commissioner Kessler to testify over plaintiffs' objections. Judge rules plaintiffs cannot seek future damages.