teva-stock-soars-after-reaching-$4.25-billion-opioid-settlement

Teva Stock Soars After Reaching $4.25 Billion Opioid Settlement

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https://www.barrons.com/articles/teva-stock-opioid-settlement-51658916103

July 27, 2022 6:02 am ET

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Shares of Teva Pharmaceutical soared early Wednesday as the Israeli drugmaker used a second-quarter update to signal a significant step toward resolving litigation it faces over its alleged role in the opioid crisis.

Teva (ticker: TEVA) rose 16.2% to $8.27 in premarket trading after the company said it would pay up to $4.25 billion (including already settled cases) spread over 13 years, in details set out in Tuesday’s financial results.

Teva Stock Soars After Reaching $4.25 Billion Opioid Settlement

Shares of Teva Pharmaceutical soared early Wednesday as the Israeli drugmaker used a second-quarter update to signal a significant step toward resolving litigation it faces over its alleged role in the opioid crisis.

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