Teva CFO: Talks continue on US opioid compensation deal
24 May, 2021 16:02
The settlement agreed for the entire US has been delayed due to a court case in California, Eli Kalif says.
Negotiations on the signing of a compromise deal in the legal proceedings on the marketing of opioid painkillers in the US are continuing, Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) EVP and CFO Eli Kalif has told the annual Oppenheimer Israel conference.
Kalif was asked if there had been any further progress towards the signing of an agreement, the outline of which was already agreed at the end of 2019. He said, "Another factor came into the matter, when a trial on the subject began in Orange County in California, so I cannot give details. I can say that the outline agreement remains unchanged and there are talks all the time but only with us but with all the others and there is nothing here that has been frozen, or that we are not trying to reach a solution. There are still negotiations."