Teva Pharmaceutical Industries (TEVA -5% ) is down in the early trading on the heel with a downgrade to Neutral and $ 12 price targets at UBS after the company announced a $ 85m. Settlement with Oklahoma. Analyst Navin Jacob believes that the company could have a lot like a $ 4B exposure with the remaining plaintiffs who have filed complaints about certain painkillers for their role in the opioid crisis. The company and its subsidiaries face 1,500 lawsuits over their promotional activities of the addictive substances. A highly anticipated trial in Ohio starts in October.
Teva is also famous in a US trial of alleged pricing of generic drugs that could result in $ 600 million. ̵
SA Authors Rating is very Bullish. Quant Rating is very Bearish and the current Sell-Side Rating is Hold.