12:08 17.11.2016

Teva sets $520 mln to settle bribery investigations in Ukraine, Russia, Mexico

1 min read

Teva international pharmaceutical company headquartered in Israel has reserve $520 million to settle bribery investigations in Ukraine, Russia and Mexico

"In light of advanced discussions with the U.S. Department of Justice and the U.S. Securities and Exchange Commission to settle our previously-disclosed FCPA [Foreign Corrupt Practices Act] investigations, we are establishing a provision of approximately $520 million. The provision relates to conduct in three countries, Russia, Mexico and Ukraine, during the time period covering 2007-2013. None of the conduct in question involved Teva's U.S. business," the company said in a financial report for Q3 2016.

Teva is a large generic manufacturer in the world.

The company's shares are listed on the New York Stock Exchange (NYSE).

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