Teva did not conspire on price-fixing, defends company CFO

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Teva did not conspire on price-fixing, defends company CFO

On Sunday, the 12th of May 2019, Chief Financial Officer of the Israeli drugmaker, headquartered in Petah Tikva, Teva Pharmaceutical Industries had said that the company had not been involved in any kind of wrongdoing in light of a latest price-fixing lawsuit filed by 44 states of US.

The Teva CFO, Mike McClellan, had been quoted saying at a press conference in Israel that the lawsuit had not been a new one and it had again been pulled out of the dark for some reason, however he did not disclose the details and stressed over the issue that the lawsuit should not be a criminal one.

Adding that the company would do everything possible to defend themselves, the Israel-based pharmaceutical group, Teva CFO, McClellan said, “There have been no developments in this area, we take these accusations seriously and we are going to defend ourselves”.

Never the less, the latest repercussion over the price-fixing issue came forth after 44 US states had filed lawsuit against 20 pharmaceutical companies conducting business in United States, over dividing market to evade competition and a potential price-fixing issue, while for some drugs, the extent of which had breached over 1,000 percent of original price.

Followed by the lawsuit, Teva responded in a statement on last Friday (May 10th), “The allegations in this new complaint, and in the litigation more generally, are just that – allegations”