The companies are facing over 3,500 opioid-related lawsuits.
The U.S. Justice Department charged Teva Pharmaceutical Industries Ltd on Tuesday with conspiring with competitors to raise prices for generic drugs, including a high cholesterol drug.
Charges against Teva, the world’s largest generic-drug maker by market value, would mark the most significant case to come out of the Justice Department’s years-long investigation into price fixing.
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Teva Pharmaceutical Industries Ltd is the largest generic drug manufacturer in the world with roughly 60 manufacturing and R&D facilities. The company was formed in 1901 and has a portfolio of more than 3,500 medicines--roughly 1 out of 9 generic prescriptions in the U.S. is filled with a Teva product. The company also develops branded pharmaceuticals in the central nervous system, oncology, and respiratory categories. Teva's generic drug sales represent slightly over half of total revenue, with branded drug and distribution revenue making up the balance. Teva is an aggressive filer to bring generic drugs to market when brand patents expire and has the most generic products pending Food and Drug Administration approval.
| Website: | www.tevapharm.com |
| Email: | kevin.mannix@tevapharm.com |
| Main Phone: | +972 39148213 |
| Address: | 5 Basel Street |
| Address 2: | P.O. Box 3190 |
| City / Town: | Petach Tikva |
| Country: | IL |
| Postal Code: | 4951033 |
| Exchange: | NYE |
| CEO: | Kare Schultz |
| Employees: | 40216 |
| NAICS: | Pharmaceutical Preparation Manufacturing(325412) |
The companies are facing over 3,500 opioid-related lawsuits.
The U.S. Justice Department charged Teva Pharmaceutical Industries Ltd on Tuesday with conspiring with competitors to raise prices for generic drugs, including a high cholesterol drug.
Charges against Teva, the world’s largest generic-drug maker by market value, would mark the most significant case to come out of the Justice Department’s years-long investigation into price fixing.
NY has charged the pharmaceutical firms with downplaying the risks of their opioid painkillers to patients and doctors.
Mallinckrodt announced a tentative $1.6 billion settlement with state and local governments in the US over the company’s role in the epidemic.
Among the FAANG stocks, managers were most bullish on Netflix, while Warren Buffett bought Amazon for the first time.
Does Teligent have the R&D to turn things around?
The rise in rates signals more trouble ahead, especially for large-cap tech stocks that ran up a lot over the last two years and many high-flying growth stocks.
Weekly and monthly buprenorphine for patients previously on long-term daily opioid therapy (Image: Braeburn)
Never mind what the gurus are buying and selling. They all need to deal with the macro environment just like everyone else.
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