TEL AVIV, Israel & PARSIPPANY, NJ, September 28, 2021– (BUSINESS WIRE) – Teva Pharmaceuticals, a US subsidiary of Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA), has reached an agreement with the Louisiana Attorney General (AG) that settles state opioid claims. The deal is subject to state confirmation by November 2, 2021 that all political subdivisions will release Teva as part of the settlement.
Under the terms of the deal, Teva will pay Louisiana $ 15 million over 18 years and provide an additional donation of life-saving drugs to help fight opioid addiction and recovery, worth $ 3. million dollars (wholesale acquisition cost). Teva continues to negotiate a national settlement and remains open in parallel to pursuing opportunities with individual states like the deal announced today, as long as it is consistent with the national approach. The Company will continue to defend itself in court in states such as New York and California where we have not entered into a settlement agreement.
Teva believes today’s settlement with Louisiana is a step forward in providing life-saving drugs to people suffering from opioid addiction.
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 3,500 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 at 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 results. future. , performance or achievements differ significantly 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 compete successfully in the market; our substantial debt; our business and operations in general, including: uncertainty regarding the COVID-19 pandemic and its impact on our business, financial condition, operations, cash flow and liquidity and on the economy in general; the effects of health care regulatory reforms and reductions in drug pricing, reimbursement and coverage; compliance, regulatory and litigation issues, including: failure to comply with complex legal and regulatory environments; increased legal and regulatory action related to public concerns about opioid drug abuse and our ability to achieve final resolution of remaining opioid-related disputes; scrutiny by competition and pricing authorities around the world, including our ability to successfully defend against criminal charges by the US Department of Justice for Sherman Law violations; potential liability for patent infringement; product liability claims; failure to meet complex Medicare and Medicaid reporting and payment obligations; compliance with anti-corruption sanctions and trade control laws; and environmental risks; other financial and economic risks; and other factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2020, including in the sections entitled âRisk Factorsâ and âForward-Looking Statementsâ. 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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Kevin C. Mannix
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