Israeli court rules Teva owes ~$350M in back taxes for 2008-2011; Teva to appeal

TEVA PHARMACEUTICAL INDUSTRIES LTD

Israeli Central District Court ruled against Teva on tax assessments for 2008-2011, finding ~$350 million liability.
Teva had provided a reserve for a substantial portion in its Q3 2021 financial statements filed Oct 27, 2021.
Teva intends to appeal the ruling, asserting meritorious defenses; case for 2012-2016 remains pending.
Further adverse rulings in related or similar claims could be material to Teva's financials.

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