The US Department of Justice (DoJ) said Monday that Israeli pharmaceutical company Teva Pharmaceuticals has agreed to pay a $225 million fine to resolve claims of price-fixing involving three of its drugs.
The widely used cholesterol medication pravastatin, which was at the center of the “price-fixing conspiracy,” was divested from Teva as part of the accord, the DoJ said in a statement.
The DoJ accused Teva and pharmaceutical company Glenmark of plotting to set the prices of three medications, including pravastatin, in 2020.
Glenmark has also agreed to pay a $30 million criminal penalty, according to the statement.
“Today, the Antitrust Division and our law enforcement partners hold two more pharmaceutical companies accountable for raising prices of essential medicines and depriving Americans of affordable access to prescription drugs,” Jonathan Kanter, the DoJ’s assistant attorney general in its antitrust division, said in a statement.
“Companies in heavily regulated industries are on notice that the division will not hesitate to hold them accountable and will not tolerate recidivism,” he added.
