A jury in the state of New York has found that Teva Pharmaceuticals Industries Ltd.
was responsible for playing a role in promoting opioid dependence.
The verdict followed a lawsuit in the state Supreme Court on Long Island. New York Justice Minister Letitia James had sued Teva and other pharmaceutical companies, claiming they were responsible for producing addictive painkillers that have caused a public health crisis.
“Today, we took a significant step in redressing the injustices that this country has collectively experienced over the last two decades,” she said. James.
“Teva Pharmaceuticals strongly disagrees with today’s result and will prepare for a speedy appeal,” a spokeswoman for the company said. She added that the company is requesting that a judge declare a lawsuit because New York lawyers, according to Teva, misrepresented the amount of opioids sold.
US-traded stocks in Teva, an Israel-based company specializing in generic versions of prescription drugs, fell about 4% Thursday afternoon.
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