Teva reaches deal with the Israel Tax Authority
Israeli generics giant Teva Pharmaceutical Industries (NYSE and TASE: TEVA) yesterday revealed that it has entered an agreement with the Israel Tax Authority (ITA) resolving all pending litigation with respect to taxes payable for the company's taxable years 2008-2020.
Under the terms of the agreement, Teva will pay a total of $750 million in installments between 2024 to 2029.
This allows Teva to end this historical income tax issue, and to continue to focus on its commitment to the health of patients and on the continued implementation of its "Pivot to Growth" strategy, the company noted.
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