Edited by : TJV News
Market Watch reported:
The U.S. business of Teva Pharmaceutical Industries Ltd. TEVA, has been indicted on charges the drugmaker fixed prices on generic drugs, according to a person familiar with the matter.
The Justice Department is expected to announce the charges imminently, the person said.
The indictment is the highest-profile action in a long-running investigation of the generic-drug industry that has resulted in more than 10 cases against companies and executives.
The pharmaceutical company was quick to respond with a public statement :
Teva is deeply disappointed that the government has chosen to proceed with this prosecution. The Company has been investigating this matter for over four years and has concluded that Teva did not participate in price fixing. Based on our internal review, Teva firmly rejects the allegations and will vigorously defend the Company in court. Teva has fully cooperated throughout the course of the Department of Justice (DOJ) investigation and has attempted to reach a resolution in the best interest of the Company, its stakeholders and the patients the company serves. The DOJ has shown an unwillingness to consider alternatives that would not deeply impact Teva and the stakeholders who depend on the Company, including the patients who benefit from our medicines.
As we defend this matter, Teva will maintain focus on its critical role in the U.S. healthcare system, ensuring access to affordable medicines, including helping millions of patients who suffer multiple chronic conditions. One out of every 10 of the 3.69 billion generic prescriptions written in the United States each year is filled with a Teva product.
