Company Statement: Teva Reaches Agreement with State of Oklahoma to Resolve State Claims Against Company



PARSIPPANY, NJ & JERUSALEM – (COMMERCIAL THREAD) – Teva Pharmaceuticals USA and related subsidiaries of Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA), and the state of Oklahoma, have reached an agreement for a one-time payment of $ 85 million to the state. The settlement resolves the state’s claims against Teva.

The regulations do not establish any wrongdoing on the part of the company; Teva has in no way contributed to opioid abuse in Oklahoma.

The company has addressed this problem in a way that benefits people who have suffered from opioid abuse and to help stop the effects of the opioid crisis. Teva continues to keep the long-term stability of the company at the forefront.

Teva remains focused on its future as a leader in creating access to life-saving medicines, such as the company’s recent final approval for the first generic naloxone spray, which is widely recognized as an essential drug to combat the disease. opioid abuse.

While the company has long said the courtroom is no place to deal with the crisis, Teva is happy to put the Oklahoma case behind it and stands ready to vigorously defend the claims against the crisis. company, including the upcoming trial in Cleveland federal court where the majority of cases are pending.

The Crown will affect the payment made by Teva at its discretion, including the payment of its fees and charges in connection with this settlement.

Teva recognizes the devastating impact on communities across the United States due to the use of illegal drugs and the abuse and abuse of opioids that are legally available on prescription. Teva continues to advocate for collaborative solutions across the country.

About Teva

Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) have been developing and producing drugs to improve people’s lives for over a century. We are a global leader in generic and specialty drugs with a portfolio of more than 35,000 products in almost all therapeutic areas. About 200 million people around the world take a Teva medicine every day and are served by one of the pharmaceutical industry’s largest and most complex supply chains. In addition to our established presence in generics, we have significant innovative research and operations activities supporting our growing portfolio of specialty and biopharmaceutical products. Learn more about www.tevapharm.com

Caution 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 the current beliefs and expectations of management and are subject to substantial risks and uncertainties, known and unknown, which could cause our future results, performance or achievements differ materially from those expressed or implied by these forward-looking statements. Important factors that could cause or contribute to such differences include risks related to:

  • our ability to successfully resolve outstanding claims related to the opioid crisis in the United States;
  • our ability to compete successfully in the market, including: that we are significantly dependent on our generics; competition for our specialty products, in particular COPAXONE®, our leading drug, which faces competition from existing and potential additional generic versions and orally administered alternatives; the uncertainty of the commercial success of AJOVY® or AUSTEDO®; competition from companies with more resources and capacities; efforts by pharmaceutical companies to limit the use of generics, including through legislation and regulation; consolidation of our clientele and commercial alliances between our clients; the increase in the number of competitors targeting generic opportunities and seeking exclusivity in the US market for generic versions of important products; the price erosion of our products, both from competing products and increased regulation; delays in new product launches and our ability to achieve expected results from investments in our product portfolio; our ability to take advantage of high value-added opportunities; the difficulty and cost of obtaining licenses for proprietary technologies; and the effectiveness of our patents and other measures to protect our intellectual property rights;
  • our significant indebtedness, which may limit our ability to incur additional debt, enter into additional transactions or make new investments, may cause our credit ratings to deteriorate further; and our inability to incur debt or borrow funds in amounts or on terms favorable to us;
  • our business and operations in general, including: failure to effectively execute our restructuring plan announced in December 2017; uncertainties related to the potential benefits and success of our new management team and organizational structure and the failure to achieve them; damage to our future product pipeline due to the ongoing review of our R&D programs; our ability to develop and market additional pharmaceutical products; the potential additional negative consequences as a result of our resolution with the US government of our FCPA investigation; compliance with sanctions and other trade control laws; manufacturing or quality control issues, which may damage our reputation for quality production and require costly repairs; disruptions in our supply chain; disruptions to our IT systems or those of third parties or security breaches of our data; failure to recruit or retain key personnel; changes in intellectual property laws that may affect our ability to manufacture our products; the challenges associated with doing business on a global scale, including the negative effects of political or economic instability, major hostilities or terrorism; significant sales to a limited number of customers in our US market; our ability to successfully bid for appropriate acquisition targets or licensing opportunities, or to complete and integrate acquisitions; and our prospects and opportunities for growth if we sell assets;
  • compliance, regulatory and litigation matters, including: costs and delays resulting from extensive government regulation to which we are subject; the effects of health care regulatory reforms and reductions in drug pricing, reimbursement and coverage; government investigations into sales and marketing practices; potential liability for patent infringement; product liability claims; increased government control over our patent settlement agreements; failure to meet complex Medicare and Medicaid reporting and payment obligations; and environmental risks;
  • other financial and economic risks, including: our exposure to currency fluctuations and restrictions as well as credit risks; potential impairments of our intangible assets; significant potential increases in taxes payable; and the effect on our overall effective tax rate of the termination or expiration of government programs or tax benefits, or a change in our business;

and other factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2018, including the sections thereof entitled “Risk Factors”. 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 place undue reliance on these forward-looking statements.


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