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Teva Posts $590m Negative EBITDA Amid Opioid Deal And Write-Offs

Russian Invasion Of Ukraine Causes Massive Goodwill Impairment

 
• By Dean Rudge

Teva’s EBITDA was in the red to the tune of more than half a billion dollars in Q2, after taking a chunk out of the company’s goodwill and adding more than $700m to its loss contingency for opioid-related claims.

Growth man drawing graph pen
Teva is looking to return to growth • Source: Christian Horz / Alamy Stock Photo

Teva slumped to $590m negative EBITDA in the second quarter, after putting pen to paper on a multi-billion-dollar nationwide agreement in principle to settle opioid-related claims against the company. However, this does not paint the full picture.

While Teva’s P&L for Q2 did include a $729m legal loss contingency “mainly related to an update of the estimated opioid settlement provision,” the Israeli firm also wrote down in value nearly three-quarters

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