Teva Agrees to Pay $225 Million to Settle U.S. Price-Fixing Charges

WASHINGTON—Generic drugmaker Teva agreed Monday to pay $225 million to settle criminal charges over price-fixing allegations related to cholesterol medication and other drugs. Prosecutors imposed an additional unique remedy on the Israel-based company, requiring its U.S. subsidiary to sell its product line for pravastatin, a commonly prescribed cholesterol drug. Under the agreement with the Justice Department, which needs court approval, Teva also must donate $50 million worth of other drugs to organizations that treat needy patients.