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Andrx/Aventis Settle With FTC: Agency Says Cardizem CD Generic Not Delayed

Executive Summary

Aventis and Andrx' consent agreement with the Federal Trade Commission includes an acknowledgement by the agency that the patent litigation settlement between the two companies did not delay the advent of generic competition to Cardizem CD.

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Elan Naprelan FTC subpoena

Elan is responding to a December 2002 Federal Trade Commission subpoena regarding Naprelan, company discloses in Feb. 27 Securities & Exchange Commission filing. FTC opened an investigation in June 2001 to determine whether Elan had restricted generic availability of Naprelan (naproxen). Andrx brought suit against Elan and SkyePharma, claiming they had entered into an anti-competitive agreement for the pain agent (1"The Pink Sheet" April 9, 2001, p. 4). SkyePharma later waived its right to 180-day exclusivity, clearing the way for Andrx' generic (2"The Pink Sheet" July 15, 2002, p. 7)...

Elan Naprelan FTC subpoena

Elan is responding to a December 2002 Federal Trade Commission subpoena regarding Naprelan, company discloses in Feb. 27 Securities & Exchange Commission filing. FTC opened an investigation in June 2001 to determine whether Elan had restricted generic availability of Naprelan (naproxen). Andrx brought suit against Elan and SkyePharma, claiming they had entered into an anti-competitive agreement for the pain agent (1"The Pink Sheet" April 9, 2001, p. 4). SkyePharma later waived its right to 180-day exclusivity, clearing the way for Andrx' generic (2"The Pink Sheet" July 15, 2002, p. 7)...

Cardizem CD settlement

Andrx and Aventis will pay $80 mil. to settle Cardizem CD antitrust litigation brought by indirect purchaser class of plaintiffs and 50 state attorneys general plus the District of Columbia and Puerto Rico. Settlement is subject to approval by Detroit federal court. Andrx' portion is covered by $60 mil. litigation charge reported in second quarter 2002, company says (1"The Pink Sheet" July 15, 2002, p. 7). In March 2001, FTC entered into a consent order with Aventis and Andrx after the commission alleged that Abbott paid Andrx not to enter the market while Cardizem CD (diltiazem)litigation was pending (2"The Pink Sheet" April 9, 2001, p. 4)...

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