Dec 22 Israel's Teva Pharmaceutical Industries
Ltd , said on Thursday it had agreed to pay
$519 million to resolve charges related to the U.S. Foreign
Corrupt Practices Act.
The settlement with the Department of Justice and the
Securities and Exchange Commission relates to conduct in
Ukraine, Mexico and a guilty plea by a subsidiary in Russia, and
followed a voluntary investigation, Teva said.
Details of the misconduct, which Teva said ended several
years ago, were not disclosed.
The Act makes it a crime to bribe foreign government
officials to win business regardless of whether the payments are
made directly or through other means such as extravagant
entertainment or footing the bill for international travel.
The deal includes a deferred prosecution agreement and the
implementation of a temporary independent compliance monitor for
Teva, whose shares are listed on the New York and in Tel Aviv
(Reporting by Natalie Grover in Bengaluru; Editing by Ted Kerr)