search
Front > News

Teva reaches last minute opioid settlement in Ohio

Teva
Teva
21 Oct, 2019 19:04
שלח תגובה במיילShiri Habib-Valdhorn

Teva will pay $20 million and donate $25 million in addiction treatment drugs, "The New York Times" reports.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) and three US pharmaceutical distribution companies have reached a pre-trial settlement for allegedly aggressively marketing addictive opioid painkillers, Judge Dan A. Polster of the Northern District of Ohio has announced, according to "The New York Times." McKesson, Cardinal Health and AmerisourceBergen will pay $215 million to the two Ohio counties that brought the case, people familiar with the agreement told "The New York Times," while Teva will pay $20 million and donate $25 million in addiction treatment drugs.

Following the news, Teva's share price was up 3.07% at $7.73 on Wall Street, giving a market cap of $7.715 billion. 

The two Ohio counties had been suing the pharmaceutical companies and the Walgreen-Boots Alliance pharmacy chain, which is not part of this settlement, for over $8 billion.

This is Teva's second pre-trial settlement in the opioid addiction affair. In May, Teva agreed to pay $85 million to the State of Oklahoma.

There are more than 2,300 such opioid suits pending against Teva and there have been reports that the company is negotiating for a global federal settlement of all these cases.

Published by Globes, Israel business news - en.globes.co.il - on October 21, 2019

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

Barak MX air defense system credit: IAI IAI profit jumps 55%

Israel Aerospace Industries posted a net profit of $493 million for 2024, and ended the year with an all-time high orders backlog of $25 billion.

A TSG system in tactical use credit: PR TSG signs cooperation agreement with US defense co

The agreement includes the integration of TSG's advanced technologies into sensor-based defense systems, which will be integrated into the operational systems of US defense units.

Bria CEO Yair Adato credit: Kseniia Poliak Israeli visual generative AI co Bria raises $40m

Bria’s Visual Generative AI platform empowers businesses to create predictable, controllable, and on-brand content that aligns with their visual language.

Amnon Shashua and Aviram Ziv credit: Eyal Izhar OrCam stymied by investor dispute with Shashua

Demands by institutional investors are blocking the visual and hearing impairment device developer's recovery plan.

Work on the Green Line credit: Bar Lavi Egged wins tender to operate TA light rail Purple, Green Lines

NTA awarded the tender to Egged, which already operates the Red Line, despite government ministry opposition to one operator for the entire network.

Gabi Seroussi illustration: Gil Gibli Board chooses Seroussi as IAI chair as Erdan freezes candidacy

Israel Aerospace Industries board chose Gabi Seroussi as chair even though he did not to go through the preliminary process of the Government Companies Authority appointments review committee.

Bavli Park penthouse credit: Eyal Tagar Tel Aviv Park Bavli penthouse sells for NIS 43m

A 44th floor penthouse in one of the two towers in businessman Yitzhak Tshuva's Park Bavli project has been bought by an Israeli businessperson.

El Al aircraft credit: Yoav Yaari El Al pilots receive nearly NIS 250,000 bonus each

Thanks to the agreements signed with the unions in 2018, El Al's employees as well as senior management share in last year's success.

Pentera CEO Amitai Ratzon credit: Eyal Izhar Israeli security validation co Pentera raises $60m

Pentera's platform enables security teams to analyze complete attack paths, identify root causes, and prioritize remediation for effective risk reduction.

Tel Aviv credit: Shutterstock Supply of unsold new homes hits record

Israel's real estate market is sliding into recession with 78,000 unsold new apartments in January, the Central Bureau of Statistics reports.

D&B chairman Doron Cohen and Meitar partner Dan Geva Meitar reclaims title of Israel's biggest law firm

Meitar has first place with 537 lawyers, followed by Herzog Fox Neeman with 512 lawyers, according to the latest Dun's 100 rankings.

First International Bank of Israel CEO Eli Cohen credit: Eyal Toueg First Int'l posts top return on equity

First International Bank of Israel's return on equity in 2024 was 19%, the highest among Israel's banks.

Dina Ben Tal Ganancia credit: Guy Kushi & Yariv Fein El Al almost quintuples profit

The airline posted a net profit of $545 million for 2024, 4.7 times the profit in 2023, and an all-time high.

Gev Hadari credit: Nati Hortig Sompo Israel appoints Gev Hadari as cybersecurity head

Hadari's expertise spans penetration testing, including Red Team operations, web applications, mobile applications, OT/IOT products, and both external and internal assessments.

Attack drones credit: Shutterstock IDF issues tender for 5,000 Israeli-made attack drones

Critics of the tender say the number being procured is insufficient and thewre are security concerns about Chinese components.

Real estate agencies illustration: Tali Bogdanovsky credit: Eyal Izhar Too many agents and too few housing deals in Tel Aviv

There were 2,270 second-hand homes sold in Tel Aviv last year, while the city has 2,566 registered realtors, "Globes" finds.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018