Murphy gave $40M in tax credits to this company. Now they’re accused of generic drug price-fixing.

PARSIPPANY, N.J. – Pharmaceutical giant Teva is in trouble after a multi-million dollar opioid settlement with the state of Oklahoma; it also stands accused of participating in an alleged generic drug price-fixing conspiracy. The Israeli-based company – whose U.S. home base is located in North Jersey – is facing possible legal peril in dozens of other states.

An under-discussed angle: Teva is in New Jersey after giving the company millions in tax credits.

“The presence of global life sciences companies like Teva Pharmaceuticals is critical to New Jersey’s ability to strengthen a thriving innovation ecosystem,” crowed Governor Murphy in an EDA (!) 2018 press release. “We are thrilled to expand our welcome to Teva, and its more than 1,000 employees, in the Garden State – the place to be for the world’s most competitive life sciences companies.”

Those comments may come back to haunt the Democrat governor.

Ironically, Murphy is now pursuing an investigation of EDA tax credits designed to humble statewide political power rival George Norcross III.

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