NEW YORK (BLOOMBERG) - Teva Pharmaceutical Industries Ltd. was charged by the US with conspiring with competitors to raise prices for generic drugs, the most significant case to come out of a yearslong investigation of price-fixing by pharmaceutical companies.. Read more at straitstimes.com.
NEW YORK - Teva Pharmaceutical Industries Ltd. was charged by the US with conspiring with competitors to raise prices for generic drugs, the most significant case to come out of a yearslong investigation of price-fixing by pharmaceutical companies.
Five other companies have settled charges and agreed to pay a total of US$426 million in criminal penalties, while a sixth was charged in June. The case came after Teva, which is based in Israel, rebuffed a settlement that would have required paying a criminal penalty and admitting wrongdoing, according to a person familiar who declined to be named because the investigation is confidential.
Teva told the government it would only accept a non-prosecution agreement that doesn't require the drugmaker to admit wrongdoing, the person said.
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