Teva’s $85 Million Opioid Settlement Needs Work, Judge Rules (1)

Teva Pharmaceuticals Industries Ltd’s $85 million settlement of Oklahoma’s claims it helped fuel a public-health crisis with its opioid painkillers needs more work, a judge concluded.

• Judge Thad Balkman refused to approve the settlement on June 10 because Oklahoma Attorney General Mike Hunter hadn’t shown the proceeds would go into the state’s treasury. Teva ADRs fell as much as 9.1% in New York, touching a 19-year low
• Oklahoma lawmakers approved a law requiring settlements negotiated by the state’s top law-enforcement official to go into official coffers after Purdue Pharma LP agreed to pay $270 million to settle Hunter’s opioid claims ...