The plot thickens as investors decry that these cloaked machinations led the market, including the plaintiffs, into a treacherous trap. They were ensnared into purchasing Teva’s securities at soaring, unjustified prices. However, by May 30, 2019, the curtain was finally pulled back, revealing Teva’s alleged sinister role in the opioid epidemic, potentially costing them billions in damages and criminal liability.
Teva’s Opioid Web: Truth or Treachery?
Teva, recognized as the purveyor of opioid brands Actiq and Fentora, found approval from the U.S. Food and Drug Administration for their drugs. But investors have cried foul, suggesting Teva was well aware of the addictive nature of opioids. They accuse Teva of orchestrating a “masterful yet deceptive marketing blitz” since the 2000s, aiming to reshape public and medical perceptions about opioids, pushing them beyond their sanctioned use.
With a barrage of seemingly legitimate materials and spending millions, Teva, they allege, deployed a cavalry of sales representatives to influence doctors and spread misleading opioid narratives. The end goal? To inflate profits and normalize the long-term prescription of opioids for chronic pain, a move the investors label as “beyond the pale.”
The Avalanche of Legal Repercussions
The investors’ narrative surmises that Teva’s marketing maneuvers weren’t just known, but actively orchestrated by its upper echelons. As a result, Teva allegedly opened Pandora’s box, leading to a surge in opioid use and subsequent abuse. The evidence? Roughly 3,500 complaints filed against Teva or its cohorts.