REUTERS - Israel's Teva
Pharmaceutical Industries Ltd (TEVA.TA)(TEVA.N),
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 stock exchanges.
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