Teva Will Pay A fine For $1.2 Billion For Violating Competition Rules In The US
US Federal Trade Commission has fined Teva Pharmaceutical pharmaceutical manufacturer for infringement of the competition rules. The fine is $1.2 billion.
According to the FTC, a division of Teva that is Cephalon company paid generic manufacturers more than $ 300 million for the delay to market counterparts of Provigil (modafinil), a drug used to treat narcolepsy.
Payments allowed to delay the release of generic drugs for a few years. The first analogue went on sale in 2012, whereas, in the Commission suggested that it should have been released in 2006. In 2011, sales of Provigil exceeded $1 billion.
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