Teva Settles Foreign Corruption Probe for $519 million
22 Décembre 2016 - 4:31PM
Dow Jones News
By Austen Hufford
Teva Pharmaceuticals Industries Ltd. said it would pay $519
million in order to settle foreign corruption allegations.
Chief Executive Erez Vigodman called its behavior "regrettable
and unacceptable," and said Teva was "pleased to finally put this
matter behind us."
Last month, Teva disclosed that it had set aside $520 million
for a possible settlement.
The U.S. Justice Department and the Securities and Exchange
Commission agreed to resolve previously disclosed investigations
into conduct in Ukraine, Mexico and Russia. The company's Russian
subsidiary submitted a guilty plea, and the resolution also
included a deferred prosecution agreement and the implementation of
a temporary independent compliance monitor, alongside the monetary
fine.
Israel-based Teva said that none of the employees involved in
the improper payments are still employed by Teva and that the
entire Russian leadership team was replaced in 2013. The
allegations didn't involved sales in the U.S.
Write to Austen Hufford at austen.hufford@wsj.com
(END) Dow Jones Newswires
December 22, 2016 10:16 ET (15:16 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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