Teva’s stock rises as the drugmaker defends against price-fixing allegations

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Shares of Teva Pharmaceutical Industries Ltd. were up 1.6% in trading on Wednesday after the drugmaker issued a statement saying it is “deeply disappointed” that the U.S. government is pursuing price-fixing allegations. A person familiar with the matter told The Wall Street Journal that Teva is being accused of fixing generic drug prices, according to a story published Tuesday. “Teva firmly rejects the allegations and will vigorously defend the company in court,” it said. Earlier this month, the government accused Teva of False Claims Act violations. Teva’s stock is down 2.7% year-to-date, while the S&P 500 is up 6.6%.
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