Teva to pay $22M to Israel authorities, resolving foreign bribery claims

Jan. 16, 2018

Teva has agreed to pay $22.1 million to Israeli authorities in fines. The agreements is part of a settlement that has the company admitting to paying bribes in Russia, Ukraine and Mexico. In 2016, Teva agreed to pay $519 million to settle the same charges in the United States 

Israeli authorities opened up its case against Teva after the 2016 case. With this week's admission of guilt, authorities in Israel have now closed criminal charges against the company.

According to the authorities, the settlement was based on the fact that it had previously paid a fine in the U.S., that it had cooperated with the investigation, and that Teva had fired the employees involved in the scandal. Additionally, Teva's financial woes also played into the structuring of the deal as the company still employs many workers in Israel and more punitive measures could have caused significant damage.

Read the Times of Israel report