Biotech Values

[DewDiligence]

TEVA settles generic-Provigil “pay-to-delay” class-action suit for $512M:

http://in.reuters.com/article/2015/04/20/us-teva-pharm-ind-provigil-settlement-idINKBN0NB1P520150420

The lawsuit, filed in 2006 by drug wholesalers and retailers, claimed that Cephalon entered into settlements in patent lawsuits with Teva, Mylan Inc and Ranbaxy Laboratories Ltd to keep generic versions of Provigil off the market until 2012. The lawsuit said that the settlements violated federal antitrust law.

Mylan and Ranbaxy, which are also defendants in the case, are not part of the settlement, according to Friday's motion.

The U.S. Federal Trade Commission also sued Cephalon over the settlements in 2008. A bench trial in that case is scheduled for June.

Teva inherited this problem by acquiring Cephalon in 2011; it was originally involved in the matter as one of Cephalon’s adversaries.