COVID-19 Continues To Hinder Teva Opioid Settlement – Although Deal Is ‘Close’
Teva ‘Optimistic’ About Proposed Framework; But ‘Pessimistic’ About Timing
Uncertainty over resolving opioids litigation led Teva to write down the value of its goodwill by more than $4bn in 2020. Management has provided the latest update on getting a deal over the line and removing a significant legal overhang.
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Teva reported a substantial loss in the third quarter after registering a goodwill impairment of $4.6bn, largely linked to legal uncertainties as the firm continues to grapple with price-fixing litigation in the US and its pending opioids settlement.
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.
Fresenius Kabi has drawn up a roadmap to offering five biosimilar products by 2025, with a biosimilar to Amgen’s Neulasta (pegfilgrastim) set to rival competitors in the US and Europe later this year, ahead of a biosimilar to Roche and Chugai’s Actemra/Ro-Actemra (tocilizumab).