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DANMARKS STØRSTE INVESTORSITE MED DEBAT, CHAT OG NYHEDER

Teva Poised to Face U.S. Charges in Drug Price-Fixing Probe


86259 tommycarstensen 25/8 2020 22:54
Oversigt

Jeg toer ikke kigge paa kursen paa Teva. Her nyt om pris-kartel-sagen fra Bloomberg Law:

Teva Poised to Face U.S. Charges in Drug Price-Fixing Probe
https://news.bloomberglaw.com/pharma-and-life-sciences/u-s-poised-to-charge-teva-in-generic-drugs-price-fixing-probe

Det foelger nyheden om Copaxone i forrige uge:

Teva CEO and CFO approved alleged Copaxone kickbacks
https://en.globes.co.il/en/article-teva-ceo-and-cfo-approved-alleged-copaxone-kickbacks-1001339941

US gov't sues Teva over alleged Copaxone kickbacks
https://en.globes.co.il/en/article-us-govt-sues-teva-over-alleged-copaxone-kickbacks-1001339816

Jeg har ondt af de aktionaerer, der har koebt den i god tro. Det er den slags ting, som ikke umiddelbart kan ses i krystal-kuglen.

Her fra hestens egen mund 5. august:
Teva Pharmaceutical Industries (TEVA) Q2 2020 Earnings Call Transcript
https://www.fool.com/earnings/call-transcripts/2020/08/05/teva-pharmaceutical-industries-teva-q2-2020-earnin.aspx

Greg Gilbert -- Truist Securities -- Analyst

Thank you. Kare, putting aside the strong performance for a moment. I wanted to ask about liability management. Is there any progress you can discuss around your proposed opioid settlement? And on the price-fixing allegations, how do you plan to balance the need to create certainty for long-term investors with the desire to achieve your long-term deleveraging targets, as well as other considerations that we should be aware of? Thank you.

Kare Schultz -- Chief Executive Officer

Yes. Thank you for that question. So first, on the opioids, we have continued our positive dialogue with the AGs, and we're continuing to refine, you could say, the framework with, of course, the objective to implement it. There has been a significant delay in the process due to COVID 19.

It basically is the case for most big settlements like the framework settlement, that when you have a lot of parties, you need to bring together with a lot of lawyers involved. Unless there's a triggering event, it doesn't really happen. And we were expecting that triggering an event, as some of you probably remember to be the trial in New York in February, but that got delayed, postponed because of COVID. It's still being postponed.

So we don't have a clear timing on that. So I would say a very positive dialogue with the AGs, but no clarity on when exactly framework will come to fruition. It is still a very, I think, desirable thing for the framework to get implemented. It does include, as you know, from us, donation at the level of $23 billion, $25 billion of products at WAC price, probably half of that net price in a category where the states can alleviate some of the problems about substance misuse and help treat patients better.

So we think it's a good thing for American people if this framework does get implemented, and we are still very optimistic and hopeful it will get implemented. But on the timing, I must admit. I don't really have a good clear answer, as to when that might be. I think it will sort of -- once we have clarity on a sort of legal situation, a major trial in one of the key states and the fact that that is actually progressing and that might result in a clarification on that.

On the price-fixing situation, we remain in dialogue with DOJ. We, of course, see a situation where we do not see that the company, in anyway, participated in criminal-organized price-fixing or were a part of creating a curtail or anything like that. So we would like to resolve it together in a positive way with DOJ, and we don't know whether this will be possible. But there's, of course, the option that we resolved it, which would be nice.

And then there's the option that it goes on in the legal system, and we are looking at all options. And we think that we can manage the situation no matter what option and that we have good plans for doing so, but right now, we're still in a dialogue with DOJ. Thank you.

Akash Tewari -- Wolfe Research -- Analyst

Hey, guys. Thanks so much for taking my questions. So, look, there seems to be a big delta between the drugs that are named in the criminal complaints for generic price-fixing versus civil complaints. As we size up kind of the potential liability impact, what's more appropriate, I think, just for building up a framework? And there's also admittedly a minority perception that there could be minimal to no DOJ liability for Teva.Is that a reasonable base case assumption for investors? Thanks a lot.

Kare Schultz -- Chief Executive Officer

Yeah. So thanks for those two questions. So if we look at the price-fixing first, then there's a criminal side to it, which is something we discussed with the DOJ. There's also a civil side in the DOJ, and then there's a sort of an AG/MDL side to it, which is also simple.

And I think you're referring to the fact that with DOJ on the criminal side, there are allegations, I think, around 10 products. And on the civil side, the allegation is around 110 products. Now, first of all, it's important to repeat that in our internal investigation where we've been through more than 1 million documents, we don't see any evidence of organized price-fixing, organized curtail, or anything involving a structured approach to this by Teva. Now, we do have continued discussions with the DOJ, and I think it's not really possible right now to give you a sort of firm basis for how you should model this.

It's an unclarified legal situation. And as you know, in legal situations, they can develop in all kind of ways in the U.S. And we will do our best, of course, based on the fact that we believe we did nothing wrong to not have a sort of insurmountable financial damage coming out of this. And there's a lot of tactical elements to that, which I can't really comment on.



25/8 2020 23:26 Hyst 186261



Tak,

Never ending story!

Men lå det ikke ligesom i kortene?

Teva mener jo det har fulgt reglerne i denne sag - men at tolkningen af reglerne i dag er en anden end tilbage i 2006 -2015.

De har informeret myndighederne om hvordan de svage patienter skulle tilgodeses på denne måde.

Det kan blive en interessant retssag (hvis det kommer dertil).




26/8 2020 00:11 tommycarstensen 186262



Hyst Jeg kendte ikke til sagerne, da den nye direktør tiltrådte.



26/8 2020 08:22 Hyst 186263



Jeg kendte ej heller noget til Teva før jeg hørte at en dansk direktør overtog ledelsen - gik dog først ind i forbindelse med Corona - men må sande at der er mere kompliceret læsestof at følge end jeg har tid og evner til.

Så, mange tak for dine opdate(s).



9/9 2020 15:01 Hyst 086645



Fald lige over denne - selv om den er lidt gammel:

https://www.businesswire.com/news/home/20200825005952/en/Statement-Response-News-Indictment-Teva-USA

Desværre er TEVA ved at komme tættere på min indkøbspris.

Måske TEVA er den første der siger stop for endeløse retssager. Nogle er sikkert berettiget - men pricefixing vil TEVA tage en kamp om, hvis der ikke kommer et fornuftigt udspil fra DOJ, men skyldig men de ikke de er.

Imens må vi se vores forfærdelige kurs - eller købe lidt mere?



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