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Teva Alleges Fraud In $2B Purchase Of Mexican Drug Co.

Law360, Los Angeles (September 27, 2016, 10:02 PM EDT) -- Teva Pharmaceuticals Industries Ltd. subsidiaries walloped two brothers who had sold their Mexican drug company to Teva with a $2.3 billion suit in New York state court Tuesday, saying the siblings hid the existence of unlawful products and evaded Mexico’s regulatory requirements.

The 52-page complaint comes less than a year after Teva Pharmaceuticals Holdings Mexico S.A. de C.V. acquired Representaciones E Investigaciones Medicas S.A. DE C.V., or Rimsa, from brothers Fernando Espinosa Abdala and Leopoldo De Jesus Espinosa Abdala for $2.3 billion, a deal that landed the brothers on Forbes’ list of wealthiest Mexicans alongside billionaire Carlos Slim, according to the...

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