Teva Pharmaceuticals agreed to pay more than $200 million in fines and divest a key generic drug treating cholesterol to settle price-fixing charges from the US Department of Justice, the agency announced Monday. Teva’s rival Glenmark will also pay a $30 million criminal penalty to be paid in six installments, the company said. In a statement, Teva said it will pay $225 million over the course of five years. As part of the agreement, Teva admitted to participating in the three conspiracies, the DOJ said. Glenmark admitted to participating in a conspiracy to fix the price of Pravastatin.

Source: CNN August 22, 2023 01:25 UTC