Teva Statement on European Commission Decision; Company to Appeal
Teva Pharmaceuticals has announced its intention to appeal a European Commission decision regarding its practices related to COPAXONE®, a multiple sclerosis treatment.
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Rhea-AI Summary
Teva Pharmaceuticals has announced its intention to appeal a European Commission decision regarding its practices related to COPAXONE®, a multiple sclerosis treatment. The company strongly disagrees with the Commission's decision, which it describes as based on extreme and untested legal theories lacking factual support.
The company has been cooperating with the EC since 2019 and states it will vigorously defend its position. Teva emphasizes its commitment to ethical business practices and continued support for MS patients, while noting it is financially prepared to mount its defense.
Positive
- Company confirms financial readiness to handle legal defense costs
Negative
- European Commission imposed fine and negative judgment against company
- Potential financial impact from EC fine
- Regulatory scrutiny over COPAXONE® practices in Europe
Details
News Market Reaction – TEVA
The recorded move for TEVA in the trading session of this news was -0.81%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
- Teva Pharmaceuticals disagrees with the European Commission decision, which is based on legal theories that the company believes are extreme, untested, and factually unsupported
- The company intends to appeal the outcome and is fully prepared to mount its defense
- Teva has supported the MS community since 1996 and will not be distracted from providing access to this important standard-of-care treatment
- Teva works to the highest ethical standards with all our external experts and do so in a highly regulated environment
TEL AVIV, Israel, Oct. 31, 2024 (GLOBE NEWSWIRE) -- Teva Pharmaceuticals Industries Ltd. (NYSE: and TASE: TEVA) is responding to the European Decision following its investigation into the company’s practices regarding COPAXONE® -- the standard-of-care treatment for multiple sclerosis – and announcing its intention to appeal the judgement and fine imposed.
The company is deeply disappointed by this decision and has been cooperating extensively with the EC since 2019. Teva disagrees with the Commission’s legal theories which are legally untested and, Teva believes, not supported by the facts. The company will vigorously defend its position on appeal and is well prepared financially to mount a defense.
Teva conducts its business lawfully and ethically and has been a strong partner to Europe, its patients, economy and healthcare systems. This misguided decision will not distract Teva from its unwavering support for patients living with MS and their families.
Media Contacts:
Kelley Dougherty (973) 832-2810
Eden Klein +972 (3) 906 2645
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