Teva announces settlement with U.S. on FCPA violations
Teva Pharmaceuticals announced the conclusion of negotiations with the United States government over violations of the Foreign Corrupt Practices Act, or FCPA. Following Teva's voluntary worldwide investigation into business practices, Teva and the U.S. Department of Justice (DOJ) and Securities and Exchange Commission have agreed to a resolution to resolve previously disclosed investigations into conduct relating to three countries - Ukraine, Mexico and a guilty plea by the subsidiary in Russia. The resolution includes a deferred prosecution agreement, the implementation of a temporary independent compliance monitor, and previously reserved payments totaling $519M. 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. None of the conduct in question involved Teva's U.S. sales.