Two major generic drug companies on Monday settled charges of criminal price fixing with the Justice Department (DOJ). The U.S. division of Israel-based Teva will pay a $225 million criminal penalty over five years, and the U.S. division of India-based Glenmark will pay a $30 million criminal penalty, DOJ announced. The two companies entered into a deferred prosecution agreement, in which they admitted to participating in antitrust conspiracies and paid penalties in exchange for not being charged. DOJ said both companies will also divest from making pravastatin, a widely used cholesterol medicine that lowers the risk of heart disease and stroke. Both companies will face pros
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