Why Teva Pharmaceutical Stock Is Jumping Today
Shares of Teva Pharmaceutical Industries (NYSE: TEVA) were jumping 7.1% as of 11:10 a.m. EDT on Tuesday. The solid gain came following a California court ruling yesterday in favor of Teva and three other drugmakers in opioid-related litigation filed by Orange, Los Angeles, and Santa Clara counties, and the City of Oakland.
The three California counties and Oakland had alleged that Teva, AbbVie (NYSE: ABBV), Endo International (NASDAQ: ENDP), and Johnson & Johnson (NYSE: JNJ) caused a public nuisance and made false or misleading statements related to marketing opioid drugs in California. But Superior Court Judge Peter Wilson ruled that the companies weren't liable in the case.
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Source Fool.com
