FTC charges Shire ViroPharma with abusing government processes to delay generics
The US Federal Trade Commission filed a complaint in federal district court charging Shire ViroPharma Inc with violating the antitrust laws by abusing government processes to delay generic competition to its branded prescription drug, Vancocin (vancomycin capsules).
The complaint alleges that because of ViroPharma’s actions, consumers and other purchasers paid hundreds of millions of dollars more for their medication.
Ireland-headquartered Shire (LSE: SHP) announced it was acquiring USA-based ViroPharma in November 2013 in a $4.2 billion deal. It sold Vancocin to US generic drugmaker ANI Pharmaceuticals (Nasdaq: ANIP) for $11 million in August 2014 when it completed the transaction.
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