Taro Pharmaceuticals to pay more than $200 mln to settle U.S. price-fixing probe (updated)

Taro Pharmaceutical Industries

23/07/2020 22:11

(Adds details of deal)
    WASHINGTON, July 23 (Reuters) - Taro Pharmaceutical  TARO.N 
agreed to pay more than $200 million to settle allegations that
it conspired to fix the prices of generic drugs, the Justice
Department said on Thursday.
    The company is the fifth pharmaceutical company to admit
that it fixed the prices of generic medicines.
    Under the terms of a three-year deferred prosecution
agreement, Taro will pay $205.7 million and agreed to cooperate
in the department's ongoing investigation, the Justice
Department said.
    Taro and other companies fixed prices and rigged bids for
medications used to prevent and control seizures and treat
bipolar disorder, pain and arthritis, and various skin
conditions, the Justice Department said. 
    "We are happy to have reached this global resolution with
the DOJ," said Taro CEO Uday Baldota in a statement. "Taro
...will continue to fully cooperate with the government on its
ongoing investigation into the generic pharmaceutical industry."

 (Reporting by Diane Bartz and Katanga Johnson
Editing by Chris Reese and Alistair Bell)
 ((Katanga.Johnson@thomsonreuters.com; 202-898-8403; Reuters
Messaging: Katanga.Johnson.thomsonreuters.com@reuters.net))