Teva Concludes Nationwide Opioids Settlement Agreement; Teva Will Pay Nevada $193 Million Over 20 Years, And This Settlement Resolves The Case Prior To Trial, Which Had Been Scheduled To Begin In August 2023
Portfolio Pulse from Happy Mohamed
Teva Pharmaceuticals has fully resolved its nationwide settlement agreement related to opioid claims brought by U.S. states, their subdivisions, and special districts, and has reached a separate settlement with Nevada. Teva will pay Nevada $193 million over 20 years, and this settlement resolves the case prior to trial, which had been scheduled to begin in August 2023.
June 08, 2023 | 12:32 pm
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Teva Pharmaceuticals has resolved its nationwide opioid settlement, agreeing to pay Nevada $193 million over 20 years.
Teva has resolved its opioid litigation with all 50 U.S. states and more than 99% of the litigating subdivisions and special districts. This settlement removes a significant legal risk for the company, but the financial impact of the settlement may offset any potential short-term gains in the stock price. Therefore, the short-term impact on TEVA's stock price is neutral.
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