BioCentury
ARTICLE | Company News

Teva neurology news

June 1, 2015 7:00 AM UTC

Teva will pay $1.2 billion to settle a 2008 Federal Trade Commission antitrust suit alleging that Cephalon Inc., which Teva acquired in 2011, paid generic drug manufacturers more than $200 million to drop challenges against patents covering sleep disorder drug Provigil modafinil and delay the entry of generics into the market.

The FTC’s suit alleged that Cephalon paid Mylan N.V. (NASDAQ:MYL, Canonsburg, Pa.), the Ranbaxy Laboratories Ltd. subsidiary of Sun Pharmaceutical Industries Ltd. (BSE:524715; NSE:SUNPHARMA, Mumbai, India) and the Barr Pharmaceuticals Inc. unit of Teva, as well as Teva itself, to wait until 2012 to begin generic competition for Provigil, which is film-coated modafinil that promotes alertness. Teva acquired Cephalon in 2011 for $6.8 billion (see BioCentury, Oct. 17, 2011). ...