Teva to appeal New York jury ruling in opioids trial

In the USA, a New York jury on Thursday found that Israel-based Teva Pharmaceutical Industries’ (NYSE: TEVA) US subsidiary contributed to a crisis of opioid abuse in the Empire State, but also placed a small portion of the blame for the epidemic on the state. Teva’s New York listed shares fell 6.3% to $7.90 following the announcement.

The New York lawsuit is one of more than 3,300 filed by state, local and Native American tribal governments across the USA accusing drugmakers of minimizing the addictiveness of opioid pain medications, and distributors and pharmacies of ignoring red flags that they were being diverted into illegal channels.

The lawsuit against Teva focused on Actiq and Fentora, two brand-name fentanyl drugs approved for some cancer patients. Teva repeatedly promoted them more broadly for other types of pain, in a “deceptive and dangerous marketing strategy,” the lawsuit said.