Teva to pay $450 million in False Claims Act settlement
Two US units of Israel’s Teva Pharmaceutical Industries (NYSE: TEVA) have agreed to pay $450 million to resolve two matters that allege Teva violated the Anti-Kickback Statute (AKS) and the False Claims Act (FCA), the US Department of Justice (DoJ) announced yesterday.
Teva is the largest generic drug manufacturer in the USA and the settlement amount was based on Teva’s ability to pay, the DoJ noted. This payment is in addition to the criminal penalty paid by Teva USA under its deferred prosecution agreement. The company’s shares dipped less than 2% on the news.
2024 has not been a good year for Teva in the USA. As well as this latest settlement, back in July the company reached an agreement in principle with the working group of US’ Attorneys General, counsel for Native American Tribes, and plaintiffs’ lawyers representing the States and subdivisions, on the primary financial terms of a nationwide opioids settlement.
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