Teva Announces Possible FCPA violations

February 12, 2015

Teva Pharmaceutical announced in a recent securities filing (http://www.sec.gov/Archives/edgar/data/818686/000119312515039151/d831284...) that an internal investigation has identified business practices that are likely to be found in violation of the US Foreign Corrupt Practices Act (FCPA). The filing states, “we have identified certain business practices and transactions in Russia, certain Eastern European countries, certain Latin American countries and other countries in which we conduct business, which likely constitute violations of the FCPA and/or local law.”

The company also mentions that its investigation has discovered that affiliates in certain countries under investigation provided inaccurate or altered information relating to marketing or promotional practices. The company said that its internal investigation is not complete and may extend beyond 2015.

Teva’s voluntary investigation began in 2012 after receiving subpoenas and informal document requests from the SEC and DOJ related to the FCPA in certain countries. The recent filing acknowledges that the company may experience adverse impacts from fines, lawsuits, and compliance impositions related to the FCPA violations.

CP Wire

Submit an article to cafepharma's CP Wire. Click here to find out more.

current feelings about your job

Please rate how you feel about your job this moment. 1 = "I hate my job" and 7 = "I love my job"
CAPTCHA
This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.
Fill in the blank.