Teva's Opioid Options Come Into More Focus Ahead Of Third Quarter Financials
Investors may have more clarity on Teva's long-term outlook if the generic drug maker reaches a settlement in a big opioid case before it goes to trial in Ohio next week.
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Four distributors and Walgreens also remain defendants; court to consider Teva's motion to dismiss if the trial results in a judgement against its subsidiaries. Seven-week trial could include 215 witnesses and 21,000 exhibits.
Purdue's rise and fall through opioids will likely end in bankruptcy, raising new questions around ongoing lawsuits and shining a light on the toll the opioid liability will leave on the industry.
Teva says paying $85m to settle claims it contributed to opioid abuse in Oklahoma is important in maintaining the stability of the heavily indebted group.