Embattled Israeli pharma fined for foreign bribes

16 January 2018

Israel's Justice Ministry said Monday it had fined the country’s largest drugmaker Teva Pharmaceutical Industries (NYSE: TEVA) $22 million for bribing foreign officials in a settlement that spares the company a potential criminal trial, according to Israeli news service Abrutz Sheva.

The deal signed on Sunday comes a month after Teva announced plans to cut 14,000 jobs gloabally, triggering strikes in Israel and pressure from the government and the powerful Histadrut labor union.

The fine was over Teva paying bribes to foreign officials to win business in Russia, Ukraine and Mexico, the ministry said.

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