European Commission opens investigation against Cephalon and Teva

3 May 2011

The European Commission has opened a formal antitrust investigation to assess whether an agreement between US-based pharmaceutical company Cephalon (Nasdaq: CEPH) and Israel-based generic drugs firm Teva Pharmaceutical Industries (Nasdaq: TEVA) may have had the object or effect of hindering the entry of generic modafinil (Cephalon’s Provigil brand) in the European Economic Area.

Modafinil is a medicine used for the treatment of certain types of sleeping disorders. The opening of proceedings does not mean that the Commission has conclusive proof of an infringement, only that it will investigate the case as a matter of priority.

The Commission has started an ex officio investigation to assess an agreement between Cephalon and Teva that may have the object or effect of hindering the entry of generic Modafinil products in the markets of the European Economic Area. In particular it is assessed whether the agreement is in breach of the European Union Treaty's rules on restrictive business practices (Article 101).

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