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Teva encouraged opioid addiction in New York state, judges find | Business and Economic Affairs

Teva Pharmaceutical Industries Ltd promoted the opioid practice in New York, a court found Thursday, the return of a company facing thousands of opioid-related cases around the United States.

The ruling, which followed almost six months after the New York lower court trial in a case involving the state and its two constituencies, does not include the destruction, which will be announced later.

The judges have been talking for more than eight days before the verdict.

The price of Teva shares dropped several shares in New York within half an hour of the ruling. At the start of the evening trading, shares were down 30 cents, or 3.6 percent, at $ 8.13.

Teva did not respond to a request for comment.

The states of New York and Nassau and Suffolk have condemned drug users in Israel for engaging in illegal trade that promoted the opioid addiction in the state, in addition to forcing drug use.

He looked at Actiq and Fentora, a painkiller for Cephalon Inc, a company that Teva bought in 2011, as well as a type of opioid marketed by Teva.

The judge in the case is still considering a request made by Teva for non-compliance after a state attorney cited the wrong number of opioid-related drugs in his final argument. If the ruling is overturned, it could force Teva to achieve international stability with other countries and local governments over opioid claims.

Evidence in the case included a recent video made at a Cephalon business conference in 2006 in which the villain, Dr Evil from the “Austin Powers” films, talks about promoting non-cancerous pain medications, and another video, taking court. scenes in the film “The Good Guys”, in which a Cephalon employee tells lawyer actor Tom Cruise that he “can’t stand the truth” on what commercial agents need to do to meet the demands.

One of 3,000 suits

Teva testified in the lawsuit that she was complying with state and federal laws and refused to engage in fraudulent activities. It noted the rise of opioid therapy and the evolution of medical conditions that have emphasized pain management since the 1990s.

U.S. officials say that by 2019, health problems have caused an estimated 500,000 people to die from opioid overdose in two decades. More than 100,000 people have died from drug overdose in the 12 months ending April 2021, the U.S. Centers for Disease Control and Prevention said in a November report, a report largely linked to deaths from opioids like fentanyl.

The New York case is one of more than 3,300 people who have been sued by local, local and Native American governments across the country criticizing drug manufacturers for reducing opioid addiction, as well as retailers and pharmacies ignoring red flags. diverted from illegal paths. .

Other defendants in the case dismissed the case before or during the trial – major pharmacies, retailers McKesson Corp, AmerisourceBergen Corp and Cardinal Health Inc, and pharmaceutical manufacturers Johnson & Johnson, Endo International Plc and AbbVie Inc. The AbbVie settlement of $ 200m, came to an end exactly. of the case, on the final day of the dispute.

Joining J&J and its partners was part of a $ 26bn global partnership. Teva did not participate in the alliance.

Teva had previously won the same case when a California judge on November 2 ruled that he and other drug dealers had not responded to a lawsuit filed by several states.

The maker of OxyContin Purdue Pharma filed a bankruptcy lawsuit in 2019 and hopes to resolve a number of pain laws through a deal in which the company’s former owner, the Sackler family, will pay $ 4.5bn for protection in future cases. However, a federal judge on December 17 rejected the agreement, a decision the company had to appeal.

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