Teva Turnaround Hung Up By The Uncertain Cost Of Settling Opioid Cases

 
• By Jessica Merrill
  
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Teva's business appears to be stabilizing but the company needs to resolve outstanding opioid liability litigation. CEO Schultz said he is hopeful a national  settlement framework will be finalized.

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Teva's effort to turn the business around faces a big obstacle • Source: Shutterstock

Teva Pharmaceutical Industries Ltd.'s revenues declined 6% in the third quarter to $4.26bn, but the decline beat analyst expectations and costs were also lower than expected, signs of stabilization after years of revenue and earnings declines. Uncertainty over how much Teva could have to pay to settle ongoing opioid liability litigation in the US, however, continues to weigh on Teva's recovery.

The company released its third quarter financial results on 7 November and simultaneously announced the appointment of a new chief...

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