Teva Reaches ‘Modest’ Settlement With Georgia Over Price-Fixing Allegations
Israeli Giant Will Pay State $3.34m As Part Of Settlement
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.
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Teva is to put more than $3bn in cash on the table over the next 13 years to resolve longstanding opioid-related claims against the company in the US.
Denying any wrongdoing or admission of liability, Teva has agreed to a proposed settlement of $420m with a class of investors following allegations that the firm had concealed the true nature of its increase in profits, which artificially inflated the price of Teva’s securities.
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.