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Violation Tracker Individual Record

Company: Glenmark Pharmaceuticals Inc., USA
Current Parent CompanyGlenmark Pharmaceuticals
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $30,000,000
Year: 2023
Date: August 21, 2023
Offense Group: competition-related offenses
Primary Offense: price-fixing or anti-competitive practices
Violation Description: The Justice Department announced deferred prosecution agreements resolving criminal antitrust charges against Teva Pharmaceuticals USA, Inc. and Glenmark Pharmaceuticals Inc., USA focusing on price-fixing of the cholesterol drug pravastatin. As part of those agreements, both companies will divest a key business line involved in the misconduct, and as an additional remedial measure, Teva will make a $50 million drug donation to humanitarian organizations. Teva will pay a $225 million criminal penalty and Glenmark will pay a $30 million criminal penalty.
Level of Government: federal
Action Type: agency action
Agency: Justice Department Antitrust Division
Civil or Criminal Case: criminal
Prosecution Agreement: deferred prosecution agreement
HQ Country of Current Parent: India
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: pharmaceuticals
Specific Industry of Current Parent: generic pharmaceuticals
Source of Data(click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.