Teva is under suspicion in bribery

| By | TEVA

According to Haarez portal, the Police of Israel is investigating Teva on suspicion in bribery.

The police’s national fraud unit has launched an investigation into suspicions that Teva Pharmaceutical Industries bribed officials abroad – a month and a half after the company settled a similar case in the United States.
In December, Teva agreed to pay $519 million amid allegations it violated the U.S. Foreign Corrupt Practices Act. That case related to conduct in Ukraine, Mexico and a guilty plea by a subsidiary in Russia.
At the center of the Israeli probe are suspicions that the company made hundreds of millions of dollars from bribes and falsified documents in order to conceal them, sources told Haaretz. Later in the day the company confirmed that an Israeli investigation similar to the American one was underway.
According to the Israeli allegations, bribes in Russia and Mexico were concealed as discounts to clients. Bribes in Ukraine were allegedly concealed as marketing and sales expenses, or as consultation fees.
Sources say the police are trying to establish whether senior Teva officials knew of any payments, directed them or turned the other way. The investigation is at its early stages but could end in a costly plea bargain similar to the U.S. one.
A plea bargain might be likely because such a case requires the perusal of hundreds of thousands of documents. Still, most of the details in the case are known from the U.S. investigation.
In an announcement after the U.S. deal, Teva said the transgressions took place from 2007 to 2012 and no one involved was currently employed by the company. This included Russia, where the entire management team was replaced in 2013.

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