Teva

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Illinois Institute Of Technology *

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MISC

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Business

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Nov 24, 2024

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docx

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Uploaded by ConstableBeeMaster768

Surname 1 Student’s Name Professor’s Name Course Date Ethical Marketing and Reporting in Pharmaceutical Industry Name of the article: “Teva Found Liable for Fueling Opioid Addiction in the US.” Authors: Scott Calvert and Kris Maher Publication Date: 31 December 2021. Article Summary The article highlights a case involving Teva Pharmaceuticals USA Inc., the New York State, Nassau, and Suffolk counties. The defendants, including various pharmaceutical manufacturers, pharmacies, and distributors, were liable for creating a public nuisance in New York State and the two counties despite the national opioid epidemic. Although some companies agreed to a settlement outside the court, Teva and Anda Inc., a drug distributor, were the main defendants (Calvert and Maher). The trial ended in three verdicts, one for each county and one for the state. On the other hand, a later trial will be critical to determine how much Teva and other defendants will pay, which might be higher than the $1.5 billion negotiated earlier from other opioid makers and distributors. The jury also indicated that the court bore some responsibilities for the public nuisance and assigned it only 10%. If Teva Pharmaceuticals fails to uphold the verdict, an appeal should be the next course of action. The notable consequences of the trial include a fall of 6% of the Teva Pharmaceutical shares (Calvert and Maher). The verdict was released when the country faced increased opioid problems during coronavirus. The companies engaged in deceptive marketing and failed to track and report all the suspicious cases. Although the companies refuted

Surname 2 the claims, they failed to prove that they did not contribute to opioid problems in the counties and state. Connection to Course Materials Businesses must ensure that their production, distribution, marketing, storage, and waste management do not jeopardize people’s health. Ethics and CSR practices should guide pharmaceutical companies’ practices. They should also follow the legal procedures for handling particular products. Therefore, Teva Pharmaceutical Company, its subsidiaries, and distributors failed to adhere to ethical and legal procedures in marketing and distributing opioid products, exposing people to danger. Ethical reporting and marketing are essential practices that should guide companies when handling their products and people. Therefore, companies must adhere to all the protocols established when handling different products to protect people from unnecessary harm.

Surname 3 Work Cited Calvert, Scott, and Kris Maher. “Teva Found Liable for Fueling Opioid Addiction in New York.” The Wall Street Journal , Dow Jones & Company, 31 December 2021, https://www.wsj.com/articles/teva-found-liable-for-fueling-opioid-addiction-in-new- york-11640889252. Accessed 21 January 2022.

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