Your browser does not support iframes.
PARSIPPANY, N.J. & JERUSALEM--(BUSINESS WIRE)--
Teva Pharmaceuticals USA and related affiliates of Teva Pharmaceutical
Industries Ltd. (NYSE and TASE: TEVA), and the state of Oklahoma, have
entered into an agreement for a one-time payment of $85 million to the
state. The settlement resolves the state’s claims against Teva.
The settlement does not establish any wrongdoing on the part of the
company; Teva has not contributed to the abuse of opioids in Oklahoma in
The company has resolved this matter in a way that benefits the people
who have suffered from abuse of opioids 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 medications like the company’s recent final approval for the
first generic naloxone spray, which is widely recognized as an essential
lifesaving medication to combat opioid abuse.
While the company has long stated that the courtroom is not a place to
address the crisis, Teva is pleased to put the Oklahoma case behind it
and remains prepared to vigorously defend claims against the company,
including the upcoming federal court trial in Cleveland where the
majority of the cases are pending.
The state will allocate the payment made by Teva at its discretion
including for payment of its fees and costs in connection with this
Teva recognizes the devastating impact to communities across the U.S. as
a result of illegal drug use and the misuse and abuse of opioids that
are available legally by prescription. Teva continues to advocate for
collaborative solutions throughout the country.
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 35,000 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 our Annual Report on Form 10-K for the
year ended December 31, 2018, including the sections thereof captioned
"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 put undue reliance on these forward-looking
View source version on businesswire.com:
Kevin C. Mannix(215)
Ran Meir972 (3) 926-7516
Yonatan Beker972 (54) 888 5898
Source: Teva Pharmaceutical Industries Ltd.