Teva’s $519 Million FCPA Settlement Highlights Hazards of Local Production Requirements 

The DOJ and the SEC recently announced a $519 million settlement with Israel-based Teva Pharmaceutical Industries and its Russian subsidiary Teva LLC over claims the company violated the FCPA by bribing government officials in Mexico, Russia and Ukraine. The settlement was announced as the “largest criminal fine imposed against a pharmaceutical company for violations of the FCPA” in the DOJ press release. The deal shows how complying with laws requiring local production can get a company in trouble and how tricky properly scaling an investigation can be. See “Familiar Schemes Land AstraZeneca $4 Million of Disgorgement and Small Penalty” (Sep. 14, 2016).

To read the full article

Continue reading your article with an ACR subscription.