Teva CEO Schultz: Only ‘Worst Cartel In History’ Would Cause Lower Prices
As US District Court Leans Towards Removing Focus On Teva In Civil Case
Facing civil and criminal charges over alleged price fixing in the US, Teva looks to have succeeded in removing itself from the spotlight in the civil proceedings, having previously been selected as a priority for trial. CEO Kåre Schultz weighed in on the latest development.
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Teva has made its third settlement with a US state following the Department of Justice’s price-fixing investigation, agreeing to pay Georgia $3.34m in exchange for the dismissal of all claims against the company and its affiliates.
Teva is expecting to have a new CEO by the end of next year, after current leader Kåre Schultz indicated that he was unlikely to renew his contract. The president and chief executive has overseen an eventful and transformative period for the Israeli firm.
Teva has struck a $950,000 deal to settle US price-fixing litigation with the state of Mississippi, in what the firm anticipates could be the first of multiple settlements with individual US states.