Taro Pharmaceuticals Deferred Prosecution Agreement

Under a three-year agreement on deferred criminal prosecutions, Taro will pay $205.7 million and agree to participate in the department`s ongoing investigation, the Justice Department said. As part of the data protection authority, Taro U.S.A. has agreed to cooperate fully with the ongoing criminal investigations of the Cartel Department. As part of the agreement, the parties will file, subject to the Tribunal`s agreement, a joint motion to delay the duration of the CCA to pursue and pursue the charges against the defendant. In the deferred law enforcement agreement, Taro U.S.A. admitted to involvement in two conspiracies indicted between 2013 and 2015. In particular, Count One Taro U.S.A. accuses of participating in a conspiracy with Sandoz Inc., former vice president of sales and marketing Ara Aprahamian, and others, from at least March 2013 until at least December 2015. Count Two accuses Taro U.S.A.

of having a second conspiracy with a Pennsylvania-based generic manufacturer and others who continue at least in May 2013 and at least until December 2015. According to the prosecution and the DPA, Taro U.S.A. and its co-conspirators have agreed to set prices, assign clients and manipulate bids for many generic drugs, including drugs for the prevention and control of seizures and the treatment of bipolar disorder, pain and arthritis and various skin diseases. The Cartel Division also announced an adjourned Lawsuit Agreement (DPA) to settle charges against Taro U.S.A., which found that the company acknowledged that its sales were affected by the offending conspiracies and exceeded US$500 million. According to the prosecution and the DPA, Taro U.S.A. and its co-conspirators have agreed to set prices, assign clients and manipulate bids for many generic drugs, including drugs for the prevention and control of seizures and the treatment of bipolar disorder, pain and arthritis and various skin diseases. In connection with the filing, the DOJ announced a law enforcement agreement (DPA) to adjourn the proceedings against Taro, in which Taro said it was prepared to pay $205,653,218 $US in criminal penalties and admitted that sales targeted by the offending plots exceeded $500 million. Taro agreed to generate more than $500 million in revenue related to his illegal behavior and agreed to participate in the ongoing investigation. Taros` cartel and abuse activities in the treatment of seizures, bipolar disorder, pain and arthritis. As part of an agreement with the DOJ on late prosecutions, the DOJ will provide information on the conduct that took place between 2013 and 2015.

If the company complies with the terms of the agreement, including the payment of $205.7 million, the DOJ will terminate the information at the end of a three-year period. The company also entered into a framework agreement with the civil division DOJ, subject to the final agreement and approval of the agency in which the company agreed to pay $213.3 million to settle all claims related to federal health programs. The company discussed a separate business integrity agreement with the Department of Health and Human Services, Office of Inspector General. This agreement complements Taro`s existing compliance programs, based on established industry best practices and standards, as well as the company`s overall code of conduct. In June 2020, the DOJ accused Glenmark Pharmaceuticals, Inc., of cashing in $200 million in surcharges for pravastatin and other drugs through illegal agreements with competing generic drug manufacturers. Glenmark did not accept any wrongdoing and has committed to fight the charges. The investigation into cartels and abuse of dominance by the DOJ`s antitrust division on the generic drug industry is accelerating. The last company to set up shop is Taro Pharmaceuticals, which agreed to enter into an adjourned lawsuit agreement and pay a $205.7 million fine for allegations related to a criminal price cartel