Teva Pharmaceuticals Industries illegally maintained a monopoly over sales of narcolepsy drug Provigil by entering “pay-for-delay” agreements to keep a generic version off the market for almost six years, according to the state attorney general's office.
It’s bad enough drug companies charge sky-high prices for brand-name prescription meds and raise those prices with regular frequency.
The Israeli pharmaceutical firm will also be under an injunction preventing it from entering into pay-for-delay agreements for 10 years.for $1.2 billion.In the settlement agreement announced Monday, Teva denied all of the state’s claims of unlawful conduct and said the agreement was not an admission of liability.
Under a settlement reached last month, Endo will pay the state $760,000 and will be under an eight-year injunction preventing it from entering into further pay-for-delay agreements, Becerra’s office said. It said Teikoku will be under a 20-year injunction. if it engaged in pay-for-delay agreements, but that regulators could pursue such cases only on a case-by-case basis. At the time, the FTC said such agreements cost consumers and health plans $3.5 billion annually.
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