Teva Posts $590m Negative EBITDA Amid Opioid Deal And Write-Offs
Russian Invasion Of Ukraine Causes Massive Goodwill Impairment
Teva’s EBITDA was in the red to the tune of more than half a billion dollars in Q2, after taking a chunk out of the company’s goodwill and adding more than $700m to its loss contingency for opioid-related claims.
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Teva is on the hook to pay more than $300m to New York state over the next 18 years, in addition to $210m in damages already agreed under its proposed nationwide settlement deal, after settling claims with the New York Attorney General.
A busy August brings patent expiries, biosimilar target action dates and the potential for a major change to biosimilar prescribing guidelines in Germany.
Sandoz has been able to hike its previously flat full-year annual guidance following an upward trajectory for the company, especially in Europe and the US. One analyst pondered whether this suggested the “emergence of a bottom in the US generics sector” during the second half of the year.