drugmaker teva says israel probing kickback allegations
Last Updated : GMT 05:21:58
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 05:21:58
Arab Today, arab today

After it paid $519 million to settle US charges

Drugmaker Teva says Israel probing kickback allegations

Arab Today, arab today

Arab Today, arab today Drugmaker Teva says Israel probing kickback allegations

Pharmaceutical giant Teva
Jerusalem - AFP

Pharmaceutical giant Teva said on Wednesday it is under investigation by Israeli police for suspected bribery of foreign officials just two months after it paid $519 million to settle US charges.

The news came a day after the world's biggest manufacturer of generic drugs said in a surprise announcement that its CEO was quitting after just three years at the helm.

"An investigation is being conducted in Israel regarding the same issues which led to a settlement with American justice authorities," a company statement said.

In December, Teva agreed to pay US authorities $519 million to settle charges that it paid bribes to foreign officials to win business in Russia, Ukraine and Mexico.

It promised to enhance its compliance programme after its Russia subsidiary pleaded guilty to one count of the Foreign Corrupt Practices Act and it signed off on a deferred prosecution agreement, the US Justice Department said at the time.

That case included bribes by Teva Pharmaceutical Industries to a "high-ranking Russian government" official who used his authority to boost sales of the Teva multiple sclerosis drug Copaxone, resulting in more than $200 million in profits for Teva and about $65 million for the Russian official, the Justice Department said.

US law permits anti-corruption sanctions against any company listed on Wall Street.

"The settlement referred to events that occurred between 2007-2012 and none of the people involved in the improper payments is currently employed at Teva," the company said on Wednesday, without commenting further on the Israeli investigation.

Police contacted by AFP had no comment on the case.

Israel's Haaretz newspaper said, without citing sources, that the country's biggest business was suspected of earning "hundreds of millions of dollars" as a result of paying kickbacks and then falsifying documents to conceal its actions.

"According to the Israeli allegations, bribes in Russia and Mexico were concealed as discounts to clients. Bribes in Ukraine were allegedly concealed as marketing and sales expenses, or as consultation fees," the paper said.

Announcing CEO Erez Vigodman's resignation on Tuesday Teva said its chairman Yitzhak Peterburg would serve as interim chief executive.

It gave no reason for the change but Israeli media said the company took action after a series of recent decisions prompted investors to lose faith in Vigodman's leadership.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

drugmaker teva says israel probing kickback allegations drugmaker teva says israel probing kickback allegations

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

drugmaker teva says israel probing kickback allegations drugmaker teva says israel probing kickback allegations

 



Arab Today, arab today Modern colorful bedroom renovation

GMT 11:23 2017 Thursday ,21 December

Modern colorful bedroom renovation
Arab Today, arab today For the Variety of Interior Design Styles

GMT 11:14 2017 Tuesday ,19 December

For the Variety of Interior Design Styles

GMT 11:55 2016 Sunday ,18 December

6.5-magintude earthquake jolts off Micronesia

GMT 07:38 2016 Tuesday ,13 September

Libya unity government loses third oil port to rivals

GMT 16:00 2017 Saturday ,12 August

Smashbox to launch Be Legendary Triple Tone

GMT 20:23 2017 Tuesday ,19 September

Abi Insoll Fine Jewellery appoints FACETS PR

GMT 06:42 2018 Friday ,05 October

President Vladimir Putin arrives in New Delhi

GMT 11:29 2016 Tuesday ,12 January

India's top court halts bull running festival

GMT 14:14 2017 Thursday ,23 March

UAE Vice President Meets Armenian President

GMT 08:39 2018 Monday ,01 January

Four things to remember on your next trip

GMT 01:42 2016 Thursday ,30 June

Albanian PM calls for European revival

GMT 06:42 2016 Tuesday ,29 March

Hijacked passenger plane lands in Cyprus

GMT 03:47 2017 Saturday ,11 February

UAE and Turkey agree on cooperative mechanisms

GMT 17:41 2017 Wednesday ,11 October

Oil glut going but growth not over a barrel: OPEC

GMT 03:11 2017 Saturday ,25 February

50 Tunisian exhibitors at Gulfood 2017, Dubai

GMT 12:48 2017 Monday ,30 January

Klopp at a low ebb as Chelsea come to town

GMT 09:23 2017 Tuesday ,07 February

Airbnb landlord hit with record fine in Amsterdam
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday