08:31 AM EDT, 06/25/2024 (MT Newswires) -- Teva Pharmaceutical (TEVA) said on Tuesday it would pay $750 million to resolve all pending litigation concerning taxes payable for 2008-2020.

Under the agreement with the Israel Tax Authority, the amount will be paid in installments between 2024 to 2029, the company said.

The Israel-based drugmaker added that it has further agreed to pay an additional 5%- 7% in corporate taxes on future dividends or equity repurchases, up to $500 million.

Teva reaffirmed its 2024 financial outlook.

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