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Why Teva Pharmaceutical Stock Is Jumping Today

TheMotleyFool

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Why Teva Pharmaceutical Stock Is Jumping TodayPhoto, wide shot, wide-angle lens, Clinical research organization, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.theapi.app/temp/c28f6640-54ba-4d2b-afbe-b5fd3b0ee19e.png

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.

Image source: Getty Images.

Source Fool.com

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