Teva to pay Kentucky $1.407M to settle state's price fixing claims

Teva will pay the state $1.407 million, and the state will dismiss all of its claims against Teva and its affiliates once payment has been made.

Sandra Levy

6/12/2023

Teva has reached an agreement with the Attorney General of Kentucky to settle the state’s price-fixing claims against Teva.

Under the terms of the settlement, Teva will pay the state $1.407 million, and the state will dismiss all of its claims against Teva and its affiliates once payment has been made.

This is the sixth settlement of price-fixing claims that Teva has reached in the United States to date. Each settlement, including this settlement with Kentucky, has followed the same framework, with Teva agreeing to pay each state an amount proportional to its share of the national population (approximately $1,000,000 for each 1% share of the national population). And Teva’s $1.407 million payment to Kentucky falls within the estimated provision that Teva’s management recorded in the third quarter of 2022, related to this litigation.

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“The company is pleased to put Kentucky’s claims behind us, and we believe the amounts included in the settlements to date reflect our position on the allegations against us, which we continue to deny. We remain focused on delivering high-quality medicines to the patients around the world who need them, while also working cooperatively with state regulators to resolve legacy litigation matters in the United States, including these cases. We are in discussions with additional states to settle these cases within the framework outlined above,” Teva said.

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