New York CNN —Teva Pharmaceuticals agreed to pay more than $200 million in fines and divest a key generic drug treating cholesterol to settle price-fixing charges from the US Department of Justice, the agency announced Monday.
The core drug involved and that will be divested to a third party was pravastatin, a widely used cholesterol medication.
Teva’s rival Glenmark will also pay a $30 million criminal penalty to be paid in six installments, the company said.
In a statement, Teva said it will pay $225 million over the course of five years.
As part of the agreement, Teva admitted to participating in the three conspiracies, the DOJ said.
Persons:
Glenmark, Sanjeev Krishan, “, Teva, ”, Jonathan Kanter, ” Teva
Organizations:
New, New York CNN, Teva Pharmaceuticals, US Department of Justice, DOJ, “ Companies
Locations:
New York