Teva Settles Price Fixing Charges With U.S. DOJ
21 Août 2023 - 10:00PM
Business Wire
Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical
Industries Ltd. (NYSE and TASE: TEVA), has reached a deferred
prosecution agreement (DPA) with the U.S. Department of Justice
(DOJ) to settle the criminal price-fixing charges brought against
Teva in 2020.
Under the DPA, which will allow Teva to avoid mandatory
exclusion from participation in U.S. federal health care programs,
Teva will pay a fine of $225 million over five years, with $22.5
million due each year from 2024 through 2027, and $135 million due
in 2028. The Company has also agreed to donate $50 million worth of
two generic products (valued at wholesale acquisition cost), to
humanitarian organizations, and to divest one additional generic
product to a third-party buyer.
Teva admits in the DPA that a single former employee, in three
instances involving three separate customers between 2013 and 2015,
agreed with competitors that Teva would not bid on an opportunity
to supply that customer with a particular generic product. This
former employee left the Company in 2016.
Teva fosters a culture of compliance, including with the
antitrust laws, and is dedicated to conducting business with
integrity and fairness. Teva has robust and consistent compliance
controls in place designed to prevent this type of activity from
reoccurring, and has committed, as part of the DPA, to maintain
those controls going forward.
The Company is pleased to put these charges behind us and
believes that we remain well-positioned to defend against related
civil claims. We are focused on delivering high-quality medicines
to the patients around the world who need them.
About Teva
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) has
been developing and producing medicines to improve people’s lives
for more than a century. We are a global leader in generic and
innovative medicines with a portfolio consisting of over 3,500
products in nearly every therapeutic area. Around 200 million
people around the world take a Teva medicine every day and are
served by one of the largest and most complex supply chains in the
pharmaceutical industry. Along with our established presence in
generics, we have significant innovative research and operations
supporting our growing portfolio of innovative medicines and
biopharmaceutical products. Learn more at www.tevapharm.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, which are based on management’s current beliefs and
expectations and are subject to substantial risks and
uncertainties, both known and unknown, that could cause our future
results, performance or achievements to differ significantly from
that expressed or implied by such forward-looking statements. You
can identify these forward-looking statements by the use of words
such as “should,” “expect,” “anticipate,” “estimate,” “target,”
“may,” “project,” “guidance,” “intend,” “plan,” “believe” and other
words and terms of similar meaning and expression in connection
with any discussion of future operating or financial performance.
Important factors that could cause or contribute to such
differences include risks relating to: compliance, regulatory and
litigation matters, including our ability to comply with and
operate under our deferred prosecution agreement (DPA) with the
U.S. DOJ; our ability to successfully compete in the marketplace;
our substantial indebtedness, which may limit our ability to incur
additional indebtedness; our business and operations in general,
including, the impact of global economic conditions and other
macroeconomic developments and the governmental and societal
responses thereto; other financial and economic risks; and other
factors discussed in this press release and in our Quarterly Report
on Form 10-Q for the second quarter of 2023 and in our Annual
Report on Form 10-K for the year ended December 31, 2022, including
in the sections captioned "Risk Factors” and “Forward Looking
Statements.” Forward-looking statements speak only as of the date
on which they are made, and we assume no obligation to update or
revise any forward-looking statements or other information
contained herein, whether as a result of new information, future
events or otherwise. You are cautioned not to put undue reliance on
these forward-looking statements.
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IR Contacts United States Ran Meir (267) 468-4475 Sanjeev
Sharma (973) 5241908
PR Contacts United States Kelley Dougherty (973)
658-0237 Yonatan Beker (973) 2647378
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