A PYMNTS Company

US: Teva to pay $512 million to settle claims of delayed generic Provigil

By  |  April 20, 2015

Teva Pharmaceutical Industries announced on Monday, April 20th has agreed to pay $512 million to settle a class action lawsuit. The suit claimed that Cephalon, which Teva acquired back in 2011, used anticompetitive settlements to delay generic versions of its wakefulness drug Provigil.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    Subscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    According to a settlement motion filed last Friday, this is the largest settlement ever paid to drug buyers over allegations of intentional planning to delay the introduction of generic drugs.

    The lawsuit was filed nine years ago by drug wholesalers and retailers, who alleged that Cephalon entered into settlements in patent lawsuits with Teva, Mylan and Ranbaxy Laboratories to prevent generic versions of Provigil from being marketed until 2012.

    The plaintiffs also alleged that these settlements violated federal antitrust laws.

    Based on a court filing published Friday, Mylan and Ranbaxy, which are co-defendants in this case, have not signed onto the settlement.

     

    Full Content: Nasdaq

     

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.