Feb 10 Teva Pharmaceutical Industries Ltd
said on Monday that the U.S. Department of
Justice has opened an investigation into the marketing and
promotion of multiple sclerosis drug Copaxone and Parkinson's
Disease treatment Azilect.
Copaxone is one of the Israeli drug company's top branded
drugs, accounting for about 20 percent of sales and 50 percent
of profit. In 2013, Copaxone sales were $4.3 billion and Azilect
sales were $493 million.
Teva is the world's largest maker of generic drugs but also
manufactures some branded drugs as well.
According to the regulatory filing, the United States
Attorney for the Southern District of New York on Jan. 8 asked
Teva for documents dating back to Jan. 1, 2006.
Teva said that the investigation focuses on possible civil
violations of the federal False Claims Act and that it is in the
process of complying with the subpoena and gathering the
Teva spokeswoman Denise Bradley declined to provide further
Teva shares were down 0.9 percent at $44.12 on Monday
afternoon on the New York Stock Exchange.