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Teva Earmarks $520 Million to Resolve Overseas Bribery Charges

November 18, 2016

Teva Pharmaceuticals is reserving roughly $520 million to settle bribery allegations across three countries, according to the company’s latest earnings report.

Advanced discussions with both the U.S. Securities and Exchange Commission and Justice Department prompted the company to set aside the funds to resolve claims alleging briberies that occurred between 2007 and 2013 in Russia, Mexico and Ukraine.

Subpoenas and information requests from the SEC and Justice Department in 2012 triggered an internal investigation by Teva that uncovered questionable business practices and resulted in terminations and a management overhaul. None of the misconduct involved its U.S. business.

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