Teva Pharma (TEVA) Reaches Agreement With Georgia to Settle the State’s Price Fixing Claims

September 30, 2022 8:00 AM EDT

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Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA), has reached an agreement with the Attorney General (AG) of Georgia to settle the state’s price-fixing claims against Teva. Teva will pay the state $3.346 million as part of the settlement, and the state will dismiss all of its claims against Teva and its affiliates once payment has been made.

Teva is committed to doing business the right way, in compliance with all applicable laws. Consistent with that commitment, Teva has also agreed, as part of its settlement with Georgia, to maintain its robust antitrust training and compliance efforts throughout the United States.

This is the third settlement of the price-fixing litigation that Teva has reached to date, having previously settled with Mississippi and Louisiana. (Alabama also recently voluntarily dismissed its claims against all defendants in the litigation, including Teva.) Teva is pleased to put these claims behind us, and we believe the modest settlement amount—in each of the three settlements to date—reflects our position on the allegations against us, which we continue to deny. We remain focused on delivering high-quality medicines to the patients around the world who need them, while also working cooperatively with state regulators to resolve legacy litigation matters in the United States, including these cases as well as the opioids cases. We are discussing settlements of the price-fixing litigation with additional states in an effort to continue replicating these results.

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