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Drug & Device News
Teva Pharmaceuticals Agrees to Pay $520M
The U.S. Department of Justice (DOJ) announced in late December 2016 that it had reached an agreement with Teva Pharmaceutical Industries Ltd. to settle a Foreign Corrupt Practices Act (FCPA) criminal complaint that the company had bribed officials in Russia, Ukraine and Mexico to ensure increased sales of its multiple sclerosis drug, Copaxone, in those countries. Assistant Attorney General Leslie R. Caldwell said in a statement issued with the DOJ's announcement: “Companies that compete fairly, ethically and honestly deserve a level playing field, and we will continue to prosecute those who undermine that goal.”
The settlement amount in the DOJ action is $283 million, with another $236 million slated to go to the U.S. Securities and Exchange Commission (SEC) in related proceedings. Teva has also pledged to cooperate with federal prosecutors and to accept the oversight of an independent corporate compliance monitor for a period of three years.
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