J&J Settlement Leaves Teva As Sole Opioid Maker In Bellwether Trial
Four distributors and Walgreens also remain defendants; court to consider Teva's motion to dismiss if the trial results in a judgement against its subsidiaries. Seven-week trial could include 215 witnesses and 21,000 exhibits.
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Trial opens after settlement proposals by three distributors, Teva and J&J fail to gain support of cities and counties. Distributors want to call former FDA Commissioner Kessler to testify over plaintiffs' objections. Judge rules plaintiffs cannot seek future damages.
Investors may have more clarity on Teva's long-term outlook if the generic drug maker reaches a settlement in a big opioid case before it goes to trial in Ohio next week.
The psoriasis drug was one of 10 J&J medicines that grew double digits in the third quarter, leading the company to raise guidance for the year.