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Teva Finds Relief In US Opioid Crisis Settlement, Updates Long-Term Objectives

Will Pay Up To $4.25bn To Close Opioid Chapter

 
• By Ayisha Sharma

The Israeli firm announced a US-wide settlement for opioid crisis litigation that has been hanging over it for years, as forex took its toll on its second-quarter revenues.    

White pills spilled on American flag background
The Opioid Crisis Litigation Has Cast A Shadow Over Teva For Years • Source: Shutterstock

Teva Pharmaceutical Industries Ltd. is set to pay up to $4.25bn under the terms of a settlement it has agreed in principle regarding opioid crisis litigation in the US, hopefully drawing a line under the issue but prompting the firm to update its guidance through 2027 during its second-quarter earnings call.

Teva reported $3.79bn in total revenues during the second quarter, down by 3% from the same time last year but largely in line with forecasts. It has trimmed its 2022...

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