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