Teva’s Legal Woes Lead To $4.6bn Hit

‘Frustrating’ Legal Situation On Price-Fixing Could Last For Years

Teva reported a substantial loss in the third quarter after registering a goodwill impairment of $4.6bn, largely linked to legal uncertainties as the firm continues to grapple with price-fixing litigation in the US and its pending opioids settlement.

Gavel
Teva is suffering under the weight of legal uncertainty • Source: Shutterstock

Teva president and CEO Kåre Schultz has made clear his “frustration” over legal uncertainties that are hanging over the company, which has registered a related goodwill impairment of $4.628bn as it reported its third-quarter results, plunging it into a multi-billion dollar loss.

The firm said the impairment was recorded “due to our current market capitalization, which is influenced by uncertainty regarding the...

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