BREAKING NEWS

Teva's parent should be restored to New York opioid case, state attorney general says

 New York's attorney general said Teva Pharmaceutical Industries Ltd TEVA.TA should be restored to litigation over its alleged role in fueling an opioid crisis in the state, accusing the Israeli-based company of lying to evade accountability.

Attorney General Letitia James said Teva falsely swore it had no role in the American opioids business overseen by its Teva Pharmaceuticals USA unit when it was actually a "primary decision-maker," and used shell companies to transfer "significant funds" into offshore accounts it controlled.

"This new evidence shows an even greater disregard for the pain and destruction that this company fueled," James said in a statement.

Teva did not immediately respond to requests for comment.

On Dec. 30, a jury in New York's Suffolk County found that Teva's US unit violated state public nuisance laws in contributing to the opioid crisis. The court had previously excused the parent company from the case.

Subscribe for our daily newsletter
Subscribe for our daily newsletter

By subscribing I accept the terms of use and privacy policy