Israeli pharmaceutical giant Teva Pharmaceuticals (TEVA) - Get Report has agreed to pay $519 million to the U.S. federal government to settle charges of foreign bribery.

Teva's share price saw a boost on the news, jumping 2.3% from market's open. Shares hit $37.21 apiece midday Thursday.

The company was charged by the Securities and Exchange Commission under the Foreign Corrupt Practices Act for allegedly violating foreign bribery laws in its Russian, Mexican and Ukrainian subsidiaries between 2002 and 2012.

In 2012, after learning of bribery allegations from both employees and U.S. officials, Teva launched an investigation into each of the three divisions and found that its Russian staff had engaged in bribery. In 2013, the entire staff in Teva's Russian office was replaced.  

"While the conduct that resulted in this investigation ended several years ago, it is both regrettable and unacceptable, and we are pleased to finally put this matter behind us," said Erez Vigodman, Teva's President and CEO in a statement. He added that Teva today is a "fundamentally different company." 

Teva has seen its share price fall 44% this year. The company sold off its generics unit to Impax Laboratories earlier this year for $586 million. Soon after selling its generics unit, Teva purchased Anda from Action Alerts PLUS holding Allergan (AGN) - Get Report for $500 million.