Teva in US federal probe of opioids affair

Teva Photo: Sivan Faraj

The Wall Street Journal reports that Teva and other companies are being investigated on the basis of laws against drug dealers.

The Wall Street Journal reports that federal prosecutors in the US have opened a criminal investigation of several pharmaceuticals companies, among the Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA). The investigation concerns whether the companies in question intentionally flooded communities with opioid-based pain relievers. The legal basis of the investigation is legislation framed for prosecuting drug dealers.

The Wall Street Journal says that is the investigation leads to criminal charges, it will be the largest prosecution yet of drug companies in connection with the opioids affair. Such a prosecution will considerably worsen the legal difficulties of the companies concerned, which are already sunk up their necks in a welter of civil actions in the US.

At least six companies are involved in the investigation: drug-makers Teva, Mallinckrodt Plc, Johnson & Johnson and Amneal Pharmaceuticals Inc., and distributor McKesson Corp. Other companies are expected to be added to the list.

Teva's share price closed 7.93% down in New York yesterday.

Published by Globes, Israel business news - - on November 27, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

Teva Photo: Sivan Faraj
Teva Photo: Sivan Faraj
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