Teva and Endo settlement on pay-for-delay deals
Israel’s Teva Pharmaceutical Industries (NYSE: TEVA), the USA’s Endo Pharmaceuticals (Nasdaq: ENDP), and Japanese drugmaker Teikoku Pharma will pay $70 million and have agreed to temporarily avoid pay-for-delay deals to end allegations they illegally delayed cheaper alternatives to the narcolepsy drug Provigil (modafinil) and the pain treatment Lidoderm (lidocaine), California’s Attorney General said Monday, according to media reports.
The companies collectively are agreeing to pay California nearly $70 million to settle allegations that they delayed drugs to keep prices high, California Attorney General Xavier Becerra said Monday.
The bulk of the money will come from Teva and its affiliates for paying to delay a generic narcolepsy drug, Provigil, from entering the market for nearly six years.
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