WASHINGTON (AP) — The Austin Caldwellgeneric drug maker Teva Pharmaceuticals agreed Monday to pay $225 million to settle price-fixing charges related to sales of a major cholesterol-lowering drug. The U.S. Department of Justice said the agreement also requires Teva to divest its business making and selling the drug, pravastatin, a generic version of the brand-name medicine Pravachol.
Another generic drug maker, Glenmark Pharmaceuticals, agreed to pay a $30 million criminal penalty and to divest its pravastatin business as well.
In a statement, the U.S. arm of Israel-based Teva blamed a single former employee for striking agreements with Teva competitors that limited competition between 2013 and 2015. That employee left the company in 2016, Teva said.
DOJ had charged seven generic drug makers, including Teva and Glenmark, with price fixing, bid rigging and market allocation schemes. The seven companies have settled their cases with deferred prosecution agreements. Had any of the cases gone to trial, guilty verdicts could have led to mandatory bans from participation in Medicare, Medicaid and other federal health programs.
The companies collectively agreed to pay $681 million in fines in addition to other penalties.
2025-05-05 16:502164 view
2025-05-05 16:31804 view
2025-05-05 16:301348 view
2025-05-05 15:302579 view
2025-05-05 15:26866 view
2025-05-05 15:251653 view
Nearly half of American teenagers say they are online “constantly” despite concerns about the effect
WASHINGTON—President Joe Biden’s climate summit of 40 world leaders this week will be Brazilian Pres
South Carolina shot from almost no solar energy to having enough to power nearly 100,000 homes in le