Teva, Mass. Settle Drug Price-Fixing Suit For $7M

Law360, New York (January 5, 2009, 12:00 AM EST) -- Teva Pharmaceutical USA Inc. has agreed to pay $7 million to settle allegations of drug price-fixing brought by the Massachusetts Attorney General's Office as part of a multidistrict litigation accusing a handful of pharmaceutical companies of falsely inflating the prices of drugs.

The state Attorney General's Office announced the settlement Monday, days after filing a stipulation of dismissal with prejudice regarding Teva and its wholly owned subsidiary Ivax Corp. in the U.S. District Court for the District of Massachusetts.

Under the settlement, Teva will pay $7...
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