(Reuters) – The U.S. Justice Department is preparing to charge Teva Pharmaceutical (NYSE:) Industries Ltd (TA:) with conspiring with competitors to raise prices for generic drugs, according to a person familiar with the matter.
The decision follows Teva’s refusal to agree to a settlement that would have required paying a criminal penalty and admitting wrongdoing, the person https:// said.
Bloomberg Law was first to report the expected lawsuit.
Teva earlier declined to comment on the Bloomberg Law report.
The Justice Department has been investigating allegations the company colluded with other drugmakers to push up the prices of widely used pharmaceuticals, including a high cholesterol drug. Lawyers for Teva had met with Justice Department officials in the spring to discuss a potential settlement, but Teva walked away from the talks in April, the New York Times reported in May.
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