Teva Pharmaceutical Industries Expects US Opioid Lawsuit To Worth $ 2.6 Billion

Teva Pharmaceutical Industries Expects US Opioid Lawsuit To Worth $ 2.6 Billion


On the heels of two other cities this year, Israel-based Teva, the world’s largest pharmaceutical manufacturer, has raised its legal framework for opioid litigation from $ 1.1 billion in the first quarter to $ 2.6 billion, which will cost more than 15 years.

“It is the result of a comprehensive analysis of the impact of the current state (state) on what we have done so far, (and) what the outcome will be based on our current discussions,” President Kåre Schultz told a conference of researchers after Teva first cited.reach four that met expectations.
Teva in March settled in Florida and Rhode Island, judging the bench in West Virginia this month and next in San Francisco awaiting July. Schultz hopes for community reforms and there are ongoing talks.
“We’re getting closer there,” Schultz said. “I’m a little optimistic about the schedule right now. So I hope we can see the national planning before the end of this year.”
He told Reuters that such a decision would avoid many more tests that could take years. He added, “If you want to help people who are suffering from drug abuse, you have to be prepared because as long as you do not save, there is no help coming to people in unprepared states. , “he added.

Teva agreed to pay $ 21 million in Rhode Island plus $ 78.5 million worth of narcan and suboxone intoxication drugs. In Florida, it will cost $ 177 million plus $ 84 million in Narcan generic.
Teva’s interest in prescribing over-the-counter medications has been a permanent feature of the negotiations. Some states and territories have raised concerns that long-term distribution agreements could discourage other companies from developing new forms of treatment. They also questioned the value of the drug being produced cheaper than the contract price.
Teva gained 55 cents per share except for one period during the January-March period, down from 63 cents a year ago.
Injured by low sales in North America of both generic drugs and the treatment of multiple sclerosis Copaxone, which faces stiff competition, their revenue fell 8% to $ 3.66 billion.
Analysts predict that Teva will receive 55 cents for the original and their revenue is $ 3.76 billion, according to I / B / E / S data from Refinitiv.

In exchange rate fluctuations, Teva downgraded its 2022 financial plan to $ 15.4- $ 16.0 billion from $ 15.6- $ 16.2 billion, while its earnings earned $ 15.9 billion in 2021. He reiterated his forecast for 2022 changing the EPS of $ 2.40- $ 2.60, over $ .2.28 last year.
Ajovy’s migraine drug sales grew 16% to $ 36 million and reached a 24% market share, although Schultz said he expects it to rise by 33%. Treatment Huntington’s Austedo market sales rose 6% to $ 154 million, with forecasts reaching $ 1 billion in 2022.
Overall drug sales in North America dropped 15% to $ 899 million due to competition in many products.
Revenue in Europe fell 5% to $ 1.16 billion, although Ajovy’s sales doubled to $ 30 million.
Teva’s network debt fell to $ 20.7 billion and the company continues to spend all of its money.
Shares listed in New York rose 1.2% to $ 8.64 in the afternoon.

Teva Pharmaceutical Industries Expects US Opioid Lawsuit To Worth $ 2.6 Billion

Leave a Comment

error: Content is protected !!