Business

Teva to Repay $1.2B for Cephalon’s Conspiring with Generic Firms

Teva Pharmaceuticals (AP Photo/George Widman)
Teva Pharmaceuticals (AP Photo/George Widman)

 

(Philly.com) – The Federal Trade Commission said Thursday that Teva Pharmaceutical Industries Ltd., now the parent company of Cephalon, agreed to repay $1.2 billion in “ill-gotten gains” for pay-to-delay deals when the two companies were competitors.

The settlement came as a trial was set to begin Monday in U.S. District Court in Philadelphia.

In a 2008 lawsuit, the FTC alleged that Cephalon paid more than $300 million to four generic drugmakers, including Teva, to delay sales of their versions of Cephalon’s blockbuster sleep-disorder drug Provigil.

Such agreements are referred to as “reverse payments,” or “pay-to-delay” deals. They allow the brand-name company to keep profits from exclusivity in the market that are larger than the payoff to the generic firms. The U.S. Supreme Court ruled in 2013 that such deals can be scrutinized for antitrust violations.

READ MORE

Tags
Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *


By submitting this form, you are consenting to receive marketing emails from: Washington Informer Newspaper, 3117 Martin Luther King Jr. Ave SE, Washington, DC, 20032, http://www.washingtoninformer.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Back to top button

My News Matters to me - Washington Informer Donations

Be a Part of The Washington Informer Legacy

A donation of your choice empowers our journalists to continue the work to better inform, educate and empower you through technology and resources that you use.

Click Here Today to Support Black Press and be a part of the Legacy!

Subscribe today for free and be the first to have news and information delivered directly to your inbox.

Select list(s) to subscribe to


By submitting this form, you are consenting to receive marketing emails from: Washington Informer Newspaper, 3117 Martin Luther King Jr. Ave SE, Washington, DC, 20032, http://www.washingtoninformer.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact
Close

Adblock Detected

Please consider supporting us by disabling your ad blocker