• Sustainability
  • DE&I
  • Pandemic
  • Finance
  • Legal
  • Technology
  • Regulatory
  • Global
  • Pricing
  • Strategy
  • R&D/Clinical Trials
  • Opinion
  • Executive Roundtable
  • Sales & Marketing
  • Executive Profiles
  • Leadership
  • Market Access
  • Patient Engagement
  • Supply Chain
  • Industry Trends

Teva, Department of Justice Agree to Drug Price Fixing Settlement

News
Article

Pharma company to pay a fine of $225 million over five years.

gavel on a money. Image Credit: Adobe Stock Images/Pakhnyushchyy

Image Credit: Adobe Stock Images/Pakhnyushchyy

Teva Pharmaceuticals and the Department of Justice (DOJ) have agreed to terms on a deferred prosecution agreement (DPA) regarding criminal price-fixing charges first brought against the company in 2020. The agreement, which allows Teva to avoid exclusion from participation in US federal health care programs, includes a fine of $225 million over the next five years. The organization also agreed to donate approximately $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.

In a company press release, Teva admitted that a former employee agreed with competitors that Teva would not bid on an opportunity to supply a customer with a particular generic product.

Reference: Teva Settles Price Fixing Charges With U.S. DOJ. Teva. August 21, 2023. Accessed August 24, 2023. https://www.tevapharm.com/news-and-media/latest-news/teva-settles-price-fixing-charges-with-u.s.-doj/

Recent Videos
Related Content