As per ruling of the case, filed against the medicinal companies Teva Pharmaceutical Industries Ltd. and Baxter International Inc, both have to pay penalty of $90 million for selling used vials of anesthetic solution Propofol.

Teva Pharmaceutical Industries Ltd. has announced that it will give multimillion-dollar golden parachutes to Cephalon Inc.’s executives if there contract will be closed early because of an acquisition.

A recent study done by a team of researchers of Teva Pharmaceutical Industries Ltd. (TEVA) has been making waves in medical research wings. As per a report, Israel-based Teva has devised an oral therapy for multiple sclerosis (MS), laquinimod, which has the potential of reducing the relapse rate in MS by 23% during the later stage of the disease.

Teva Pharmaceuticals, already the world's biggest maker of generic drugs, has outshined U. S. drugs powerhouse Pfizer and Iceland's Actavis in the race for Ratiopharm. The agreement between the two companies is expected to take place soon, after a nine-month battle for about 3.5 billion Euros ($4.78 billion).

U. S. Food and Drug Administration has bunged Teva Pharmaceuticals from selling veterinary drugs, citing company's animal health unit has some manufacturing troubles.

Teva Animal Health Inc., which produces generic pet drugs is said to have failed to stick to manufacturing standards.

New Jersey-based Barr Pharmaceuticals Inc. has informed that its shareholders approved the proposed buyout of the company by Israeli generic drug maker Teva Pharmaceuticals Industries.

In July, Teva agreed to acquire 100% stake in Barr Pharmaceuticals for $7.46 billion in stock and cash, or about $66.50 a share.