Teva Announces Settlement For Violation Of Foreign Corrupt Practices Act

(RTTNews) - Teva Pharmaceuticals Industries Ltd., (TEVA) Thursday announced that it has agreed with U.S. Department of Justice and Securities and Exchange Commission to resolve an investigations into conduct relating to three countries - Ukraine, Mexico and a guilty plea by the subsidiary in Russia. The investigation was related to the violations of the Foreign Corrupt Practices Act. None of the conduct in question involved Teva's U.S. sales.

The resolution includes a deferred prosecution agreement, the implementation of a temporary independent compliance monitor, and previously reserved payments totaling $519 million. The resolution involves conduct occurring in the past, and none of the employees involved in the improper payments are still employed by Teva, including in Russia where the entire leadership team was replaced in 2013.