Teva Poised to Face U.S. Charges in Drug Price-Fixing Probe (1)

U.S. prosecutors are preparing to charge <-bsp-bb-link state="{"bbHref":"bbg://securities/TEVA%20US%20Equity/BQ","_id":"00000174-53e5-dc11-a57f-53e73e720000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Teva Pharmaceutical Industries Ltd. with conspiring with competitors to raise prices for generic drugs, according to a person familiar with the matter.

The Justice Department is planning to charge Teva as soon as Tuesday after the company rebuffed a settlement that would have required paying a criminal penalty and admitting wrongdoing, said the person, who declined to be named because the matter is confidential.

Teva’s U.S.-traded shares fell as much as 6% on the news and were down 2.3% to $9.41 at 3:25 p.m. in New York. A spokesperson for the company, which is ...