Teva Finalizes Settlement with Federal Trade Commission to Resolve All Outstanding Litigation between the Parties

PARSIPPANY, N.J.–(BUSINESS WIRE)–Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) today
announced a settlement with the Federal Trade Commission (FTC) that will
resolve all outstanding litigation between the parties. Under the terms
of the settlement, which is subject to court approval, the FTC will
dismiss its claims against Teva and its affiliates in three outstanding
cases, and the parties will modify certain terms in their 2015 consent
decree. Teva will not pay any additional money to the FTC as part of
this settlement.

We are very pleased to put these litigations against the FTC behind
us,” said Brendan O’Grady, EVP and Head of North America Commercial at
Teva. “We also appreciate the FTC’s willingness to modify our consent
decree to eliminate certain administrative burdens that will make it
easier for us to navigate the patent issues that are critical to our

Originally entered in 2015 in FTC v. Cephalon, Inc., the consent decree
provides clear guidance on the types of patent litigation settlements
that are appropriate from the FTC’s perspective. This clarity helps Teva
manage the complex antitrust and other related issues inherent in the
pharmaceutical business environment. The three outstanding cases that
will be dismissed against Teva and its affiliates as a part of the
settlement are FTC v. AbbVie Inc., Nos. 18-2621, 18-2748, 18-2758 (3d
Cir.); FTC v. Actavis, Inc., Civ. Action No. 09-955 (N.D. Ga.); and FTC
v. Allergan PLC, Civ. Action No. 17-00312 (N.D. Cal.).

About Teva

Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is a global
leader in generic medicines, with innovative treatments in select areas,
including CNS, pain and respiratory. We deliver high-quality generic
products and medicines in nearly every therapeutic area to address unmet
patient needs. We have an established presence in generics, specialty,
OTC and API, building on more than a century-old legacy, with a fully
integrated R&D function, strong operational base and global
infrastructure and scale. We strive to act in a socially and
environmentally responsible way. Headquartered in Israel, with
production and research facilities around the globe, we employ 45,000
professionals, committed to improving the lives of millions of patients.
Learn more at

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995, which
are based on management’s current beliefs and expectations and are
subject to substantial risks and uncertainties, both known and unknown,
that could cause our future results, performance or achievements to
differ significantly from that expressed or implied by such
forward-looking statements. Important factors that could cause or
contribute to such differences include risks relating to:

  • our ability to successfully compete in the marketplace, including:
    that we are substantially dependent on our generic products;
    competition for our specialty products, especially COPAXONE®,
    our leading medicine, which faces competition from existing and
    potential additional generic versions and orally-administered
    alternatives; the uncertainty of commercial success of AJOVY®
    or AUSTEDO®; competition from companies with greater
    resources and capabilities; efforts of pharmaceutical companies to
    limit the use of generics, including through legislation and
    regulations; consolidation of our customer base and commercial
    alliances among our customers; the increase in the number of
    competitors targeting generic opportunities and seeking U.S. market
    exclusivity for generic versions of significant products; price
    erosion relating to our products, both from competing products and
    increased regulation; delays in launches of new products and our
    ability to achieve expected results from investments in our product
    pipeline; our ability to take advantage of high-value opportunities;
    the difficulty and expense of obtaining licenses to proprietary
    technologies; and the effectiveness of our patents and other measures
    to protect our intellectual property rights;
  • our substantial indebtedness, which may limit our ability to incur
    additional indebtedness, engage in additional transactions or make new
    investments, may result in a further downgrade of our credit ratings;
    and our inability to raise debt or borrow funds in amounts or on terms
    that are favorable to us;
  • our business and operations in general, including: failure to
    effectively execute our restructuring plan announced in December 2017;
    uncertainties related to, and failure to achieve, the potential
    benefits and success of our new senior management team and
    organizational structure; harm to our pipeline of future products due
    to the ongoing review of our R&D programs; our ability to develop and
    commercialize additional pharmaceutical products; potential additional
    adverse consequences following our resolution with the U.S. government
    of our FCPA investigation; compliance with sanctions and other trade
    control laws; manufacturing or quality control problems, which may
    damage our reputation for quality production and require costly
    remediation; interruptions in our supply chain; disruptions of our or
    third party information technology systems or breaches of our data
    security; the failure to recruit or retain key personnel; variations
    in intellectual property laws that may adversely affect our ability to
    manufacture our products; challenges associated with conducting
    business globally, including adverse effects of political or economic
    instability, major hostilities or terrorism; significant sales to a
    limited number of customers in our U.S. market; our ability to
    successfully bid for suitable acquisition targets or licensing
    opportunities, or to consummate and integrate acquisitions; and our
    prospects and opportunities for growth if we sell assets;
  • compliance, regulatory and litigation matters, including: costs and
    delays resulting from the extensive governmental regulation to which
    we are subject; the effects of reforms in healthcare regulation and
    reductions in pharmaceutical pricing, reimbursement and coverage;
    governmental investigations into selling and marketing practices;
    potential liability for patent infringement; product liability claims;
    increased government scrutiny of our patent settlement agreements;
    failure to comply with complex Medicare and Medicaid reporting and
    payment obligations; and environmental risks;
  • other financial and economic risks, including: our exposure to
    currency fluctuations and restrictions as well as credit risks;
    potential impairments of our intangible assets; potential significant
    increases in tax liabilities; and the effect on our overall effective
    tax rate of the termination or expiration of governmental programs or
    tax benefits, or of a change in our business;

and other factors discussed in our Annual Report on Form 10-K for the
year ended December 31, 2018, including the sections thereof captioned
“Risk Factors.” Forward-looking statements speak only as of the date on
which they are made, and we assume no obligation to update or revise any
forward-looking statements or other information contained herein,
whether as a result of new information, future events or otherwise. You
are cautioned not to put undue reliance on these forward-looking


IR Contacts
United States
Kevin C. Mannix (215)

Ran Meir (215) 591-3033

PR Contacts
United States
Kelley Dougherty (973)
Elizabeth DeLuca (267) 468-4329

Yonatan Beker
972 (54) 888 5898

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