Drug Maker To Pay Nearly $520M To Settle SEC, Justice Department FCPA Claims

Mealey's (December 22, 2016, 2:47 PM EST) -- WASHINGTON, D.C. — Teva Pharmaceutical Industries Ltd. and its wholly owned Russian subsidiary will pay nearly $520 million to settle claims with government authorities over the generic drug manufacturer’s involvement in a bribery scheme in violation of the Foreign Corrupt Practices Act (FCPA), according to press releases issued Dec. 22 by the U.S. Department of Justice and the Securities and Exchange Commission (United States of America v. Teva Pharmaceutical Industries Ltd., et al., No. 16-cr-20967, S.D. Fla.; and Securities and Exchange Commission v. Teva Pharmaceutical Industries Ltd., et al., No. 16-cv-25298, S.D. Fla.)....