Teva Pharmaceutical Industries has settled in the lawsuit filed against the company and will pay 519 million dollars. The lawsuit claimed the company used bribes in Mexico, Ukraine and Russia to increase sales.
Settled for 519 million dollars Photo credit: Reuters/ Channel 2 News
On Thursday, the Israeli company Teva Pharmaceutical Industries announced that it has reached an agreement with the US court and will pay a 519 million dollar fine to the government. The company was accused of bribing senior level officials in Mexico, Ukraine and Russia to increase sales in these countries.
Teva’s settlement has been reached after the company’s subsidiaries pleaded guilty to the same charges in Ukraine and Mexico. The charges against the company claim improper conduct of employees but the pharmaceutical giant claims all the employees that were involved are no longer working in the company.
In addition to the settlement, 20 states filed a lawsuit against the company, claiming price fixation that led to an increase in the price of general medications.