- The first trial in Rhode Island state court against Teva Pharmaceutical Industries Ltd's (NYSE:TEVA) alleged responsibility for the opioid crisis begins jury selection Monday.
- The case begins over whether Teva contributed to an opioid crisis that has caused more than 500,000 deaths over the past two decades.
- Rhode Island says Teva created a "public nuisance" by downplaying the risks of opioid addiction and promoting the off-label use of fentanyl-based opioids that were approved only for certain types of cancer pain.
- According to a Teva court filing, Rhode Island is seeking $5.9 billion from the companies.
- Also See: Teva, Texas Enter $225M Opioid Settlement Agreement.
- Teva subsidiaries Actavis Pharma and Cephalon Inc are also defendants in Rhode Island Superior Court in Providence.
- The companies have denied the allegations, saying they sold legal and approved drugs for pain treatment.
- In court filings by Teva, it calls Rhode Island's lawsuit an improper attempt to blame a wide-ranging public health crisis on "a small subset of opioid manufacturers" that make "niche" medicines like Actiq and Fentora.
- Teva also sells generic opioids such as oxycodone.
- Price Action: TEVA shares are down 2.61% at $7.29 during the market session on the last check Monday.
