Teva Slapped With €60m Fine Over Unlawful EU Provigil Delay
Fine Closes ‘Pay-For-Delay’ Investigation That Began In 2011
Teva received a “package of commercial side-deals” for agreeing to halt generic competition to Cephalon’s Provigil (modafinil) throughout the EU, which it “would not have achieved without committing to staying out of the market,” according to findings by the European Commission.
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$1.2 billion agreement resolving Provigil litigation with FTC blocks Teva from entering business deal with competitor until 30 days after patent settlement that restricts generic entry, sets $7 million cap on litigation savings.
The pursuit of mid-sized European pharma by U.S. firms for tax as well as other benefits continued in July, while biotechs in the region stayed cautious about IPOs; the European Commission encountered opposition to its stance on patent settlements, while EMA had to delay starting the pro-active release of clinical trial data.