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Oklahoma judge OKs Teva's $85M opioid settlement

  • An Oklahoma district court judge has approved the $85M settlement from Teva Pharmaceutical Industries (TEVA -2.2%) to resolve claims by the state attorney general's office over its role in the opioid crisis there.
  • The money, to be deposited in the Opioid Lawsuit Settlement Fund, will fund treatment and education programs.

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Comments (34)

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gflander profile picture
So, is there a good chance that we will look back on the frivolous nature of these lawsuits in 12 months and consider it another “stuck on stupid” moment or era?? TEVA Legal team needs to not settle anymore - wait for the stupidity of the temporary storm to stop?

Yes. If anyone needs to be sued it is the doctors that over prescribe.
there is no over prescribe. patients say they have chronic pain and they get meds. there is absolutely no way to prove if they have pain or not. you give them meds and they take some and sell the rest.
Bright spot profile picture
There are DR. that over subscribe, and over sell. Just because someone says they're in pain, doesn't mean you give them an opioid. You try Tylenol, if that doesn't cut it, Codeine with Tylenol. Even if the Opioids are the most effective, they shouldn't be the first thing served by practice. Even a shot of Demerol can be what is needed. Maybe there should be more in house when an Opioids are required, Hospital stays?
Are you kidding it was the JACHO who mandated we (Drs) treat pain -now they are getting paid for their illegal practice of medicine
gflander profile picture
Civil versus criminal
gflander profile picture
I thought the settlement was without admitting any wrongdoing. But I still don’t understand while they settled. Another recent SA post suggested TEVA Mgt and Legal team misunderstands US law (culver versus criminal, etc.) Considering their market share (per another SA article) why TEVA was in a rush to settle makes no sense. This seems like an undue demonization of the producers when the FDA and Doctors were the true gatekeepers. And, Opiods (and cigarettes and alcohol) are still legal. This seems an illogical and politicized $ grab by lawyers and States/cities. What was TEVA Mgt thinking??
JNJ has big pocket books to fight this in court. TEVA and everybody else will wait and watch how the JNJ lawsuit unfolds and if JNJ wins, TEVA won't have to settle. if JNJ loses, timber....
Adjank profile picture
I dont like them settling this case, why is Teva management not commenting on this?
It's an absurd lawsuit. Teva should at least wait for J&J's trial result before admitting guilty and offering any settlement. Other 49 States will demand payments from Teva too since Teva has admitted Guilty by offering money.
dlvvlv profile picture
OK done......who is next?
stantry profile picture
other companies caught up in the opioid lawsuit doesn't seem to be affected. J & J has recovered well from the initial hit. unfortunately being a foreign company maybe working against TEVA. I still think this will recover back to $15 by year end. Everyday is a rollercoaster for those who are heavily invested. Some good news is required to change sentiment. Maybe a Q2 beat will help start shake things up. Is there any FDA approval awaited on new TEVA drug?
And now compare J&J s credit rating and market cap with tevas'...
Just the same as suing the gun makers for crimes with guns. I can't see why it's the manufactures responsibility for this mess. After all they only made a product that people wanted.
yes the problem is gun control and not gun manufacturing
Teva will go bankrupt but will emerge with new owners such as Buffet & friends. Teva as it exists is uninvestable.
What an absurd comment. Read the financials.
That’s it, they need to add a B to that figure
15% goes to Okla state hired outside lawyers. 9 Okla cities so far are also suing TEVA yet. Okla pop./USA pop. expands $85 mil. settlement to just over $7 Billion. Then add Billions more for all the cities and counties many of which are more populous than Okla.(gosh. I thought they were part of their states. I guess that's only geographically.)
gflander profile picture
Can anyone clarify: Is that an Oklahoma Opioid Lawsuit Settlement Fund, or National Opioid Lawsuit Settlement Fund, like some one asked before? I thought Oklahoma was trying to get the $ for their general state coffers?
oh yes the money will go to help the addicts and not wasted on cars assistants rent etc
Bright spot profile picture
Theft by law. This is an outrage. This all should fall on the end users, and the doctors that prescribed them if they over did it.
kingRIG2.0 profile picture
How much of this expected multi billion dollars in settlements
Actually be recovered from insurance?
I_like_preferreds profile picture
I hope they will sue the doctors who prescribed it.
@thegreatant. I hope your right my friend. I could sure use that kind of return after getting in on this blood bath.
Teva is going to 50$. Hold your horses
rabbi_kalkstein profile picture
was a reverse split announced?
4.4 billion $ more to go. Teva is out of cash.
MWinMD profile picture
TEVA reaches settlement with OK; stock goes down

Judge puts settlement on hold: stock goes down

Judge okays settlement again: stock goes down

But it's a rational market, really it is!
Greenhorn Investor profile picture
TEVA is still in voting machine mode for now...
It's not only rational, but efficient.
IIRC the stock fell quite some % on the back of the judge having rejected the settlement, so it should correct itself some % then, no?
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