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Teva Pharmaceutical Industries Limited (TEVA)

NYSE - NYSE Delayed Price. Currency in USD
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10.11-0.01 (-0.10%)
At close: 4:00PM EDT
10.21 +0.10 (0.99%)
Pre-Market: 08:21AM EDT
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  • s
    saully
    I found the story. Teva is paying Mississippi 925k to settle the big price fixing case and soon to settle more. The problem is there are 43 states in the lawsuit. If we assume they all settle for 1mill a piece, 43 mill is a lot less than they expected. Am I right?
  • E
    EZDUBL
    Its interesting that TEVA settled with Mississippi...Kare, who has extremely high integrity had repeatedly stated that they could find no evidence of price fixing...his exact words were.."Its hard to admit guilt for something you did not do"...now they have settled with Miss and the article indicates they are looking to reach a global/group settlement....so what has changed? Is Kare at the point with TEVA that he just wants this legal stuff behind them? Do they have some idea around where the opioid settlement is going?...tough to know..
    Bullish
  • s
    sam
    just saw on bloomberg TV that TEVA settled its Mississippi case..no details..
  • f
    fangyong
    Four drugmakers launched a coordinated strike late Thursday on a landmark opioid trial underway in California, arguing that local governments have failed to prove their core allegations about a purportedly devastating addiction crisis in the Golden State.

    In a joint motion filed one day after the governments rested their case, the drugmakers sought judgment in their favor on the trial's primary claim: that they created a "public nuisance" by recklessly marketing prescription narcotics and therefore must pay billions of dollars in compensation.

    The drugmakers — divisions of Johnson & Johnson, Endo Pharmaceuticals, Teva Pharmaceuticals and Allergan PLC — noted that the case was filed in 2014 and that the trial started in mid-April. They suggested that the communities have had more than enough time to gather proof of wrongdoing and harm.

    "Despite having seven years to build a public nuisance case and more than six weeks to present evidence of a public nuisance, the [communities] have failed to establish the basics of a public nuisance claim," the drugmakers wrote. "The court should enter judgment for all defendants on the [communities'] public nuisance claim."

    Thursday's motion referred to the public nuisance claim as "the centerpiece of this litigation." The case also includes claims of unfair competition and false advertising, but defeating the public nuisance claim would likely be seen as a near-total victory for the drugmakers.

    At least two of the drugmakers — Allergan and J&J unit Janssen Pharmaceuticals — filed separate motions late Thursday seeking judgment in their favor on the nuisance, false advertising and unfair competition claims. The latter two claims "require individualized analysis of the specific evidence against each defendant," according to the joint motion.

    The joint motion made two specific legal arguments in contending that the communities have failed to identify a public nuisance that local prosecutors are legally empowered to remediate. One of those arguments was that the communities haven't described an ongoing hazard, as opposed to past problems with opioid abuse, and therefore haven't satisfied California's definition of a public nuisance.

    While the communities have linked opioid abuse to future homelessness and family disruption, holding drugmakers liable for such attenuated harms would open a Pandora's box, the joint motion said.

    "The evidence in this case establishes no hazard threatening future harm. Any other conclusion would render public nuisance liability virtually limitless," the motion said. "All manner of health injuries, from alcoholism to obesity to social media addiction, would become public nuisances, so long as they cause downstream societal impacts and can be traced back to some 'knowing' commercial conduct."

    "The number of prescriptions being written in the plaintiff jurisdictions is lower now than at any other point for which data are available. And it continues to drop," the drugmakers wrote. That comment echoed a strategy the drugmakers have deployed throughout the trial to question the very premise of the case."
  • G
    G.
    TEVA's past week movement is usually typical before a sharp rise in price. what's happanning is that market makers try to shake weak hands up and down so they can buy their shares cheap. TEVA might jump to 14-15 USD within a month or two.
  • M
    MarkSharky
    3 Buffet Stock to Buy Hand over Fist-

    Teva Pharmaceutical Industries
    If you think Bristol Myers Squibb is a deep-discount value stock, wait till you get a closer look at brand-name and generic-drug producer Teva Pharmaceutical Industries (NYSE:TEVA).

    Generally, stocks are cheap for a reason. In Teva's case, it's because the company has contended with a multitude of problems over the past five years. It paid far too much to acquire generic-drug producer Actavis in 2016, thereby taking on too much debt, and has faced all sorts of litigation, ranging from its role in the opioid crisis to whether or not it fixed prices for select generic drugs. None of this is good news; but it's also no longer as bad as it sounds.

    Since taking the helm in late 2017, CEO Kare Schultz has worked wonders. That's because Schultz is a turnaround specialist who's done this once before at Danish pharmaceutical company Lundbeck. In his more than three years with Teva, Schultz has reduced the company's net debt from north of $34 billion to less than $24 billion, and he has the company on track to hit $15 billion in net debt by the end of 2023. He's also shaved $3 billion off of Teva's annual operating expenses and sold off a handful of non-core assets.

    The key for Schultz is going to be if he can broker a settlement with U.S. regulators concerning opioid and generic price-fixing litigation. Teva can ill-afford a large cash settlement at this stage of its turnaround. If Schultz is able to work out a deal with lawmakers involving the gifting of generic medicines over the next decade, the gray cloud shrouding Teva would quickly disappear.

    Although Teva still has work to do, it's generating $2 billion or more annually in operating cash flow, and it looks downright cheap at 4 times Wall Street's projected earnings per share for 2021.
    Bullish
  • G
    G.
    enerally, stocks are cheap for a reason. In Teva's case, it's because the company has contended with a multitude of problems over the past five years. It paid far too much to acquire generic-drug producer Actavis in 2016, thereby taking on too much debt, and has faced all sorts of litigation, ranging from its role in the opioid crisis to whether or not it fixed prices for select generic drugs. None of this is good news; but it's also no longer as bad as it sounds.

    Since taking the helm in late 2017, CEO Kare Schultz has worked wonders. That's because Schultz is a turnaround specialist who's done this once before at Danish pharmaceutical company Lundbeck. In his more than three years with Teva, Schultz has reduced the company's net debt from north of $34 billion to less than $24 billion, and he has the company on track to hit $15 billion in net debt by the end of 2023. He's also shaved $3 billion off of Teva's annual operating expenses and sold off a handful of non-core assets.

    The key for Schultz is going to be if he can broker a settlement with U.S. regulators concerning opioid and generic price-fixing litigation. Teva can ill-afford a large cash settlement at this stage of its turnaround. If Schultz is able to work out a deal with lawmakers involving the gifting of generic medicines over the next decade, the gray cloud shrouding Teva would quickly disappear.

    Although Teva still has work to do, it's generating $2 billion or more annually in operating cash flow, and it looks downright cheap at 4 times Wall Street's projected earnings per share for 2021.
    Bullish
  • D
    DoctorM
    this must be one of the worst stocks out there. the only stock im losing on. red red red
  • R
    Rami
    My advice for longs:

    1. Don't sell any of your shares!
    There are so many articles about Teva because of the trial, this is the money time!  
    You can't predict when it will happen but if you stay long, you will be rewarded. 

    2. Buy more once the settlement announced. 
    It doesn't matter what would be the settlement, the day it announced just buy more, even at 15$ a share. 
    Teva fair value is 30$ after settlement
    3. Get ready for Short Squeeze. 
    Short traders had a nice play here in the last two years, shorting TEVA with a stop-loss around 14$. 
    Once TEVA breaks 14$ (about 20% from the current level), it will reach 20$ in less than a week, mark my words. 

    And once again, don't sell any of your shares!
  • l
    lorenzo s
    I am copying from $endp conversation

    Great Barron's article on the opioid lawsuit. Note how the author was expecting a $50B award in California and that is essentially zero after the debacle in Orange County.

    Also note how the author states that this will precipitate a settlement because it is in the best interest of both parties.

    I think that both sides settle nationwide with proposed amount
    Teva to pay $500 million and about 23 billion in medicines for addiction over a 10 year period

    -----------------------------------------

    After a yearlong delay caused by the pandemic, a New York jury is set to hear a case later this month that could finally bring progress in the sprawling government litigation seeking to hold corporations liable for the opioid crisis.

    New York state and two of its counties, Nassau and Suffolk on Long Island, are suing a number of companies, including Johnson & Johnson (ticker: JNJ), McKesson (MCK) and Teva Pharmaceutical Industries (TEVA), for monetary damages. Jury selection is set to begin Tuesday.

    The trial, along with three others in the country, ends the long pause in efforts by states, counties and local governments to recover funds spent combating the epidemic, especially the costs associated with prevention and treatment.

    In a note on Friday, RBC Capital Markets analyst Daniel Busby said the renewed litigation could end the drawn-out legal battle. The New York case will be the biggest, most complicated trial so far, and the first heard in front of a jury, he noted.

    “The start of the New York opioid trial later this month is emblematic of a broader pick-up in opioid litigation activity across the US,” Busby wrote. “Collectively, we believe these trials could increase the impetus for a global settlement, or at the very least, better inform manufacturer liability estimates as trial decisions are rendered in ~2H2021 and beyond.”

    Nearly 500,000 people died of opioid overdoses between 1999 and 2019, according to the Centers for Disease Control and Prevention—and the crisis shows no signs of slowing. The 12 months ending in May 2020 saw more than 81,000 drug overdose deaths, the most ever recorded in a year, the CDC reported.

    For years, state and local governments have brought court challenges against companies in the opioid supply chain, including Johnson & Johnson, Teva Pharmaceutical Industries, Endo International (ENDP), Cardinal Health (CAH), AmerisourceBergen (ABC), and CVS Health (CVS), and others. Purdue Pharma, the private company that makes OxyContin, which many government lawsuits have said fueled the epidemic, filed for bankruptcy because of the litigation.

    The litigation is extraordinarily complex, and involves thousands of plaintiffs and a large number of defendants. The companies generally argue that they were selling, manufacturing, or distributing legal products, and aren’t responsible for abuse.

    While some state attorneys general have signed a tentative agreement with some of the defendants, the deal hasn’t been completed. The last major opioid trial ended in 2019, and the CEO of one pharmaceutical company attributed the slowdown in settlement negotiations to the pandemic and the delay of the New York trial.

    “Not much has happened,” Teva CEO Kåre Schultz told Barron’s in August, when asked about progress toward a settlement. “We haven’t really been pushed to a final conclusion.”

    The litigation payouts could ultimately be in the tens of billions of dollars, spread across a number of public companies. They have acted as an overhang on a number of stocks for years. RBC’s Busby wrote that he expects a total opioid liability for drug manufacturers alone of $57 billion.

    The amount of damages being sought in a California case, one of the four highlighted by Busby, is $50 billion. That trial started in April and is still going on, as is one in West Virginia that started in May. The fourth, in Tennessee, is scheduled to being in July.

    Sectors impacted by the litigation have trailed the market over the past year. The S&P 500 Health Care Distributors index is up 16.6% over the past 12 months, while the broader S&P 500 is up 34.3%. Teva is down 17.7% over the same period, while Endo is up 35.5%.
    Bullish
  • T
    Tim
    Predictably, the Judge declined all summary judgement motions. He wants to hear the defense put on it's case.
  • j
    john
    I think insiders are slowly nibbling going long on TEVA. Why? Because the Opioid trial is now here and TEVA has a huge mitigating/Goodwill circumstance going for them. TEVA donated millions of does of HCQ to nursing homes and hospitals summer 2020. In fact, many state AG's had to disclose that their states accepted the cache even though they, the AG, had a future Opioid shakedown for TEVA. Now the chickens are coming home to roost with this FARCE shakedown and TEVA will come out fairly well due to TEVA's goodwill. Get your popcorn ready, this is back to the $20's within a couple of months...or higher.
  • b
    billkr
    Teva’s settlement with Mississippi was for $925,000.
  • f
    fangyong
    Teva filed a new suit against Lilly in Massachusetts federal court Tuesday, the same day it scored two new Ajovy patents from the U.S. Patent and Trademark Office.

    The Israeli drugmaker says Lilly’s rival migraine prevention drug Emgality infringes upon the two newly granted Ajovy patents. The company is seeking to block Lilly from making and selling its CGRP inhibitor in the U.S. and is demanding damages.
  • m
    myownhedgefund
    Nice breakout from a consolidation triangle going all the way back to early this year on double normal volume. That said I am hoping the move isnt purely technical and since we have begun the expected settlement timeline that more serious talks are again taking place. A $25 print sometime in 2022 !!!!
    Bullish
  • R
    Rami
    https://www.bizportal.co.il/globalmarkets/news/article/793205 (use google translate)

    "The opioid trial in New York begins and the chances of a compromise settlement increase"

    "The start of the trial in New York later this month marks the expected expansion of litigation activity across the U.S.," RBC analyst Daniel Bezby wrote in a letter to investors, adding that "this is the most complicated trial to date and the first to come before a jury. We believe that these laws increase the chances of a global settlement with the companies, or at least we will know better about the manufacturers' warranty in the second half of the year.
  • R
    Reuven
    So if they look for money they should go after the FDA, TEVA Pharmaceutical saves many lives and it's a real good company, if they really looking for justice ,this trial should be dismissed and turned against the FDA, No settlement at all, but unfortunately in today's world, money talks and BS works, TEVA shares are way under value in today's market, at least $50 if not more........ wake up traders
    Bullish
  • B
    Bob
    NO. TEVA is not dead money as we will see when these ^%^& lawsuits are over!
  • l
    lorenzo s
    Plaintiffs destroyed. Case looks solid for defendants. Looks like trial will end soon, plaintiffs should try to settle faster. Train only passes once. if you miss the ride.......
  • e
    emclu
    TEVA is a great case for business schools of how not to run a business. In 2015 revenues of almost $20 B and debt of about $8 billion and a share price north of $70 at one point, and a dividend of $1.37 per share. Fast forward to 2021 revenues of about $16.5 Billion and still dropping, total debt of $25 Billion, deficits in working capital the last 5 years, no dividend and a huge upcoming liability with opioid lawsuits. They are competing with drug companies that don’t have all these “anchors”, not included their entrenched work force. They need almost perfect execution to move on from here. Might happen but based on their recent history unlikely. IMHO