Jefferies analyst David Steinberg said Teva CEO Kare Schultz has "largely delivered" on stabilizing Teva's financials over the past two years on the job, but opioid litigation has overwhelmed the fundamentals lately. After hosting investor meetings at the company's headquarters in Israel, Steinberg said Teva "offered little in the way of tangible progress" toward getting its proposed opioid settlement approved by all the relevant parties. Steinberg, who notes that there are still 46 state attorneys general that need to opt in, said he believes that "seems uncertain" to happen. Given the opioid litigation is "clouding an already uncertain future," Steinberg keeps a Hold rating and $9 price target on Teva shares, though he added that management believes that the market is just about at the price stabilization phase of the generic drug pricing cycle.

Teva Pharmaceuticals announced final results from the HD cohort of the Phase 4 START study, demonstrating positive real-world effectiveness, safety, adherence and satisfaction with the 4-week Titration Kit for AUSTEDO. As a fatal, neurodegenerative disease, HD can cause cognitive deterioration, behavioral and/or psychological problems and uncontrollable body movements known as chorea - a symptom that can have a significant impact on daily activities like eating or talking.3-5 These data are being presented at the 2024 American Academy of Neurology AAN Annual Meeting. "90% of HD patients experience chorea,3,4 so it's important for patients to have a treatment option that not only helps address symptoms, but helps provide a positive patient experience," said Eric Hughes, MD, PhD, Executive Vice President of Global R&D and Chief Medical Officer at Teva. "We remain committed to exploring ways to evolve the AUSTEDO treatment experience to meet the needs of the HD community, and these latest real-world data reinforce the role of the 4-week Titration Kit for AUSTEDO in empowering patients with HD chorea to find their optimal dose, adhere consistently to their treatment plan, and achieve effective outcomes."