Teva Pharmaceutical Industries announced that it has entered an agreement with the Israel Tax Authority, ITA, resolving all pending litigation with respect to taxes payable for the Company’s taxable years 2008-2020. Under the terms of the agreement the Company will pay a total of $750 million in installments between 2024 to 2029. This allows Teva to end this historical income tax issue, and to continue to focus on its commitment to the health of patients and on the continued implementation of its “Pivot to Growth” strategy. Under the terms of the agreement, it was further agreed that in the future event Teva pays dividends on, or repurchases, its equity interests, it will pay an additional 5%-7% of the amount of such dividends or repurchases in corporate taxes, up to a maximum tax payment amount of approximately $500 million.
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