Teva Sets Aside $200 Million for Potential DOJ Settlement (1)

Teva Pharmaceutical Industries Ltd. set aside $200 million for a possible settlement with the US Department of Justice over allegations of price fixing, the company said Wednesday.

The DOJ charged Teva in 2020 with conspiring with other drug companies to raise prices for generics. That allegedly led to consumers being charged at least $350 million more than they should have been. Teva pleaded not guilty.

Teva is in “advanced settlement discussions” about the case, Chief Financial Officer Eli Kalif said on the company’s second-quarter earnings call.

“We believe that we’ve come to a good agreement,” Chief Executive Officer Richard ...