Teva Still Hopes To Reach Deal On US Price-Fixing Allegations
Israeli Firm Remains ‘In Dialog’ With DoJ Over Conspiracy Claims
Teva says it remains hopeful that it can resolve US price-fixing allegations “in a positive way” with the US Department of Justice, but acknowledges that the matter could go all the way to trial.
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Teva reported a substantial loss in the third quarter after registering a goodwill impairment of $4.6bn, largely linked to legal uncertainties as the firm continues to grapple with price-fixing litigation in the US and its pending opioids settlement.
Teva is lining up another complex ANDA product after agreeing to settle litigation with Collegium Pharmaceutical over the Israeli firm’s proposed generic version of Xtampza ER (oxycodone) extended-release capsules.
Teva has insisted it “did not participate in price fixing,” after being charged by the US Department of Justice with conspiring to fix prices for generic medicines, resulting in consumers being “allegedly overcharged at least $350m.”