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United States to charge Teva in generic drugs price-fixing probe, says report
Reuters
Last Updated IST
The logo of Teva Pharmaceutical Industries. Credit: Reuters
The logo of Teva Pharmaceutical Industries. Credit: Reuters

The US Justice Department is preparing to charge Teva Pharmaceutical Industries Ltd with conspiring with competitors to raise prices for generic drugs, Bloomberg Law reported on Tuesday, citing a person familiar with the matter.

The decision follows Teva's refusal to agree to a settlement that would have required paying a criminal penalty and admitting wrongdoing, the report said.

Teva declined to comment on the report.

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The Justice Department has been investigating allegations the company colluded with other drugmakers to push up the prices of widely used pharmaceuticals, including a high cholesterol drug.

Lawyers for Teva had met with Justice Department officials in the spring to discuss a potential settlement, but Teva walked away from the talks in April, the New York Times reported in May.

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(Published 26 August 2020, 08:16 IST)