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Name | Symbol | Market | Type |
---|---|---|---|
Teva Pharmaceutical Industries Ltd | NYSE:TEVA | NYSE | Depository Receipt |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.08 | -0.57% | 13.90 | 72,486 | 14:13:19 |
Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) and its affiliates, has reached an agreement with the Attorney General of West Virginia that settles the state’s and its subdivisions opioid-related claims. The settlement will provide West Virginia with $75 million over 15 years in addition to $8 million in attorneys’ fees and costs incurred during the trial. Teva will also provide its life-saving medicine, the generic version of Narcan® (naloxone hydrochloride nasal spray), valued at $27 million (wholesale acquisition cost), over 10 years. The settlement structure is consistent with previously announced settlements.
Today’s settlement with the state of West Virginia is another critical step forward in getting life-saving treatments to people suffering from addiction to opioids. This settlement agreement is not an admission of any liability or wrongdoing, and the Company continues to actively negotiate a national settlement.
About Teva
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) has been developing and producing medicines to improve people’s lives for more than a century. We are a global leader in generic and specialty medicines with a portfolio consisting of over 3,500 products in nearly every therapeutic area. Around 200 million people around the world take a Teva medicine every day, and are served by one of the largest and most complex supply chains in the pharmaceutical industry. Along with our established presence in generics, we have significant innovative research and operations supporting our growing portfolio of specialty and biopharmaceutical products. Learn more at www.tevapharm.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management’s current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause our future results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating to:
and other factors discussed in this press release, in our Quarterly Report on Form 10-Q for the first quarter of 2022 and in our Annual Report on Form 10-K for the year ended December 31, 2021, including in the sections captioned "Risk Factors” and “Forward Looking Statements.” Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220523006055/en/
IR Contacts
United States Ran Meir (267) 468-4475
Israel Yael Ashman 972 (3) 914-8262
PR Contacts
United States Kelley Dougherty (973) 658-0237
Yonatan Beker (973) 264 7378
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