Teva to pay U.S. government $519 million over foreign bribery charges

© Reuters. Teva plant is seen in Jerusalem© Reuters. Teva plant is seen in Jerusalem

(Reuters) – Israel’s Teva Pharmaceutical Industries Ltd (TA:) (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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