Teva Announces End to Propofol Production

[CherubimII]

Teva Announces End to Propofol Production; Drug Caused Michael Jackson’s Death

by MidnightTrader.com May 28, 2010 10:27 EDT Related Symbols: TEVA


10:27 AM Eastern Daylight Time, 05/28/2010 (MidnightTrader) —

Teva Pharmaceutical Industries Ltd. (TEVA) opened near even, but has been moving lower with the market after announcing this morning that it will end production of propofol, the powerful sedative that caused the death of pop singer Michael Jackson.

Shares opened at $55.68 and are down 1.33% at $54.96, a penny off its session low.

Teva gave no reason for the move, but it could be related to a spate of lawsuits, numbering 250 or more related to the drug, which is supposed to be confined to a hospital operating rooms.

AstraZeneca PLC (AZN) makes Divipran, the brand name drug. Its shares are up 0.69%.
Price: 54.96, Change: -0.74, Percent Change: -1.33

http://www.onn.tv/news-feed/midnight...ckson-s-death/

[GinnyJackson]

good

[DanceofLorelei1994]

Excellent.

[Ashtanga]

Too late....

But at least they did something. Good.

[elusive moonwalker]

well they are gonna need something to use in operating theatres. i guess they are bothered about the lawsuits. but its not the drug that is the problem but what ppl do with it

[AllForLove]

"Teva gave no reason for the move, but it could be related to a spate of lawsuits, numbering 250 or more related to the drug, which is supposed to be confined to a hospital operating rooms."

good thing - what kind of lawsuit could it be ? Someone knows ?

[144,000]

inevitable. Michael is a world fan treasure. and perception is reality.

[JMie]

I think they will just rename it, that's all. after all, it's not the drug itself, it's the doctors who are responsible.

[elusive moonwalker]

"Teva gave no reason for the move, but it could be related to a spate of lawsuits, numbering 250 or more related to the drug, which is supposed to be confined to a hospital operating rooms."

good thing - what kind of lawsuit could it be ? Someone knows ?

yeah thats a good question. has there been many. i know theres been quite a few crim cases

[rainny]

It will be back under a new name.

[AllForLove]

yeah thats a good question. has there been many. i know theres been quite a few crim cases

Probably, that's what I also thought - it's scaring, it seems to me that to find this kind of drug is quite easy
I'm agree, they will surely change the name.

[ginvid]

Yes, I agree I would like to know what kind of lawsuits are pending. I mean if this drug is in all actuality safe when used correctly, why would they stop production? Aren't many drugs unsafe when used incorrectly? Unless it is osmething about the drug they are not telling us?

[ivy]

I got answers

First of all apparently Teva is not the only manufacturer of Propofol. It's just an international based manufacturer that produces generic Propofol. So other companies are still continuing to produce the drug.

Secondly if you remember some time after Michael's death there was a recall for Propofol due to manufacturing error by Teva and they are facing civil suits because of that manufacturing error. The 250 lawsuits are from 2008 and this is the info for that

In 2008, propofol was connected to a hepatitis C outbreak that infected as many as 114 people. Vials of propofol were allegedly used to treat more than one patient each, spreading the liver disease. Close to 250 lawsuits have been filed in connection with the outbreak.

this month one person won their lawsuit and Teva is required to pay $356 million to that person. However they are appealing the lawsuit saying that it was the hospital that misused the drug (giving it more than one person)..

That's why

for detailed info

http://abcnews.go.com/Business/wires...0769777&page=1

and I think we should move this to general discussion as I can't see the tie to MJ.

[FedoraHatGirl2058]

If only this was done before June 25, 2009

[AllForLove]

I got answers

First of all apparently Teva is not the only manufacturer of Propofol. It's just an international based manufacturer that produces generic Propofol. So other companies are still continuing to produce the drug.

Secondly if you remember some time after Michael's death there was a recall for Propofol due to manufacturing error by Teva and they are facing civil suits because of that manufacturing error. The 250 lawsuits are from 2008 and this is the info for that



this month one person won their lawsuit and Teva is required to pay $356 million to that person. However they are appealing the lawsuit saying that it was the hospital that misused the drug (giving it more than one person)..

That's why

for detailed info

http://abcnews.go.com/Business/wires...0769777&page=1

and I think we should move this to general discussion as I can't see the tie to MJ.

Thanks !!