NEW YORK/BOSTON: Teva Pharmaceutical Industries Ltd's proposed US$23 billion drug giveaway to settle thousands of U.S. opioid lawsuits will likely cost the company a fraction of that figure due to how it has valued those medicines, according to a Reuters review of pricing data and industry analysts.
The deal is"overvalued to make the settlement look better," said Hunter Shkolnik, a lawyer on the plaintiffs executive committee that is managing more than 2,300 federal lawsuits consolidated in the U.S. District Court in Cleveland. Teva said the donated drugs should meet most of the currently estimated U.S. patient need for the next decade.
WAC - frequently referred to as the list price of a drug - does not include discounts or rebates and is often several times higher than what patients actually pay at the pharmacy. Jefferies analyst David Steinberg estimated that the cost of the donated drugs would be around US$1.5 billion, while Bernstein analyst Ronny Gal suggested they could cost about US$2.3 billion to produce. JP Morgan analyst Chris Schott's estimate of manufacturing costs for generic Suboxone was higher, ranging from US$5.75 billion to US$9.2 billion, still a long way from the company's projected US$23 billion value.
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