Teva concludes negotiations over FCPA violations

Teva Pharmaceuticals Industries' negotiations regarding the violation of the Foreign Corrupt Practices Act have concluded with a resolution of investigations in Ukraine, Mexico and Russia, where the subsidiary pleaded guilty.
“While the conduct that resulted in this investigation ended several years ago, it is both regrettable and unacceptable, and we are pleased to finally put this matter behind us,” Teva President and CEO Erez Vigodman said. “Since becoming CEO, I have worked diligently to make our culture of compliance central to everything Teva does. The compliance program that Teva has in place is serious, rigorous, and comprehensive and is designed to protect the company and its subsidiaries against future violations.”
The investigation concluded with Department of Justice and Securities and Exchange Commission approval.
“The Teva of today is a fundamentally different company,” Vigodman said. “We welcome working with the monitor as an added step in our process to ensure the program we have put in place is working as designed. Teva has a compliance culture that begins with a strong tone at the top, including our executive regional and local management and a culture of compliance that underpins every single business decision that Teva makes.”