California Judge Rules That Teva Did Not Cause a Public Nuisance or Make False or Misleading Statements About Opioids

Rhea-AI Summary

Teva Pharmaceutical Industries Limited has achieved a legal victory as Judge Peter Wilson of the Superior Court in California ruled that Teva did not cause a public nuisance regarding opioid marketing in Orange County, Los Angeles County, Santa Clara County, and Oakland. The court also found that Teva did not engage in false or misleading advertising practices. Teva emphasizes the need for comprehensive settlements to support those affected by opioid addiction, while it remains committed to providing affordable medicines globally.

Positive

• Legal victory in California courts confirming no public nuisance and no false marketing claims regarding opioids.

Negative

• Ongoing opioid litigation may still pose risks despite current legal win.

PARSIPPANY, N.J.--(BUSINESS WIRE)-- Today, Orange County, California, Superior Court Judge Peter Wilson issued a decision finding that Teva did not cause a public nuisance in Orange County, Los Angeles County, Santa Clara County and the City of Oakland and that Teva did not make any false or misleading statements in connection with marketing prescription opioids in California.

While we are pleased that the Court in California made this determination, a clear win for the many patients in the US who suffer from opioid addiction will only come when comprehensive settlements are finalized and resources are made available to all who need them. Teva continues to pursue a national settlement framework as well as to support the business of Teva, which remains dedicated to providing uninterrupted access to affordable medicines throughout the world.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211101006036/en/

IR Contacts

United States

Kevin C. Mannix (215) 591-8912

Israel

Yael Ashman 972 (3) 914-8262

PR Contacts

United States

Kelley Dougherty (973) 658-0237

Yonatan Beker(973) 264 7378

Source: Teva Pharmaceutical Industries Limited

FAQ

What was the recent court ruling regarding Teva in California?

The recent court ruling found that Teva did not cause a public nuisance or make false statements related to opioid marketing.

How does the recent court decision impact Teva's stock?

The court ruling may positively affect Teva's stock by alleviating some legal risks associated with opioid litigation.

What counties were involved in the Teva court case?

The counties involved in the Teva court case include Orange County, Los Angeles County, Santa Clara County, and the City of Oakland.

What is Teva's ongoing commitment after the court ruling?

Teva is committed to pursuing a national settlement framework to assist those affected by opioid addiction.