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Legal Settlements and Loss Contingencies
3 Months Ended
Mar. 31, 2023
Legal Settlements and Loss Contingencies
NOTE 9 – Legal settlements and loss contingencies:
In the first quarter of 2023, Teva recorded expenses of $233 million in legal settlements and loss contingencies, compared to $1,124 million in the first quarter of 2022. Expenses in the first quarter of 2023 were mainly related to estimated provision
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recorded in connection with the DOJ patient assistance program litigation and the reverse-payment antitrust litigation over certain HIV medicines, as well as an update to the estimated settlement provision related to the remaining opioid cases (mainly related to the effect that the passage of time had on the net present value of the discounted payments). Expenses in the first quarter of 2022 were mainly related to an update of the estimated settlement provision recorded in connection with the remaining opioid cases. See note 10.
As of March 31, 2023 and December 31, 2022, Teva’s provision for legal settlements and loss contingencies recorded under accrued expenses and other taxes and long-term liabilities was $4,299 million and $4,186 million, respectively.