Teva Pharmaceutical to Pay $519 Million to Settle FCPA Charges

Conclusion The Criminal Division’s Fraud Section reached the resolution based on a variety of factors, including that Teva did not timely voluntarily self-disclose the conduct, but did cooperate with the department’s investigation after the SEC served it with a subpoena. Teva received a twenty percent discount off the low end of the United States Sentencing Guidelines fine range because of substantial cooperation and remediation. The company did not receive full cooperation credit, because, according to the DOJ, there were several issues that resulted in delays in the early stages of the investigation, including vastly overbroad attorney-client privilege assertions and failure to timely produce relevant documents. However, the announcement by the DOJ made no mention of any resolution of bribery probes that Teva had previously acknowledged in Argentina and Romania. According to Teva, the Argentina internal review has been closed, but still no mention of a resolution involving Romania. The Teva settlement at $519 million joins the ranks of Seimens ($800 million), Alstrom ($772 million), and KBR/Halliburton ($579 Million) as number five in the largest FCPA settlements in history.       Related StoriesIs the Carrot Bigger Than the Stick? - The DOJ’s FCPA “Pilot Program”Tenet Healthcare to Pay $514 Million to Settle Kickback AllegationsOmnicare Inc. to Pay Over $28 Million to Settle Kickback Allegations 
Source: Policy and Medicine - Category: American Health Authors: Source Type: blogs