Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries, Ltd. (NYSE and TASE: TEVA) strongly disagrees with today’s outcome and will prepare for a swift appeal as well as continue to pursue a mistrial.
In NY, the plaintiffs presented no evidence of medically unnecessary prescriptions, suspicious or diverted orders, no evidence of oversupply by the defendants – or any indication of what volumes were appropriate – and no causal relationship between Teva’s conduct including its marketing and any harm to the public in the state.
Prior to deliberation, Teva sought a mistrial based on, among other issues, the state’s misrepresentation of the amount of opioids sold by Teva in NY by more than 500 times.
Teva continues to focus on increasing access to essential medicines to patients, including opioid medications for approved indications. Most importantly, the Company continues to pursue a national settlement in the best interest of patients.
As recently as last month, a court in California 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.
Additionally, last month the Oklahoma Supreme Court overturned an earlier judgment against a pharmaceutical manufacturer and ruled that the public nuisance law in Oklahoma does not extend to the manufacturing, marketing and selling of prescription opioids.
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