Teva To Pay $315M To Settle Price Inflation Suits

Law360, New York (February 5, 2010, 3:39 PM EST) -- Teva Pharmaceutical Industries Ltd. will pay about $315 million to settle claims that it caused the federal government and certain state governments to pay inflated drug prices, the company said Friday.

Teva and several of its U.S. subsidiaries reached a settlement in principle to resolve the government claims, part of a consolidated multidistrict litigation in the U.S. District Court for the District of Massachusetts first brought by relator Ven-A-Care of the Florida Keys Inc.

Alongside a bevy of drug industry giants, Teva was accused of defrauding...
To view the full article, register now.