Boxes of tablets produced by Teva Pharmaceutical Industries.
Chris Ratcliffe | Bloomberg | Getty Images
Drugmaker Teva Pharmaceuticals agreed to pay $225 million in criminal fines over five years to resolve charges related to price fixing three medications, including a generic cholesterol drug that it has agreed to divest, the U.S. Department of Justice announced Monday.
Glenmark Pharmaceuticals will pay $30 million to resolve charges alleging that it conspired with Teva to fix prices for that cholesterol drug, called pravastatin. Glenmark will also divest its version of that drug.
Teva’s fine is the largest to date for a domestic antitrust case. Both settlements are the latest resolution in a string of cases related to price fixing, which refers to competitors banding together to artificially set the price of a product.
Since 2020, the DOJ’s antitrust division has charged five other pharmaceutical companies for participating in similar schemes affecting several generic drugs….
2023-08-21 16:43:32
Source from www.cnbc.com