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Department of Justice accused Teva Pharmaceutical's US Business of Violating Anti-Kickback Law

August 19, 2020
Yesterday the Justice Department filed a lawsuit against Teva Pharmaceutical Industries' US business and a subsidiary, claiming that the company violated anti-kickback law by paying about $300 million to foundations between 2006 and 2015 to cover the price rise in its sclerosis drug Copaxone under Medicare program. Copaxone’s price increased from $17,000 a year to $73,000 a year during the mentioned period.
 
This situation affected Teva’s position in the financial market. The company’s Eurobonds moved down. For instance, a $3.5 bn 3.15% 1oct2026 bond’s price on Frankfurt Stock Exchange fell from 93.68% (August 17) to 93.46% (August 18). Currently, the price is 91.28%. Shorter-term bonds are showing mixed movements. 

The company has 25 outstanding Eurobonds denominated in Euro, USD, and CHF.
  • Status
    outstanding
  • Country of risk
    Israel
  • Redemption (put/call option)
    *** (***)
  • Amount
    3,500,000,000 USD
  • М/S&P/F
    — / — / —
  • Full name
    Teva Pharmaceutical Industries Limited
  • Registration country
    Israel
  • Industry
    Healthсare