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WASHINGTON: The US government has reached an agreement with Teva Pharmaceuticals Industries that its agreements with rivals have prevented consumers from gaining access to cheaper generic drugs.
The Federal Trade Commission announced on Tuesday (19 February) that it has settled three reverse payment disputes with Teva units, which will be banned from entering into similar agreements with competitors.
In a reverse payment system, a branded drug company compensates a generic company if it agrees to delay marketing the cheapest version of the drug.
"This broad agreement prevents the world's largest generic manufacturer from entering into collusive agreements that prevent price competition from staying out of the market," said FTC President Joe Simons in a statement.
The oldest of the three cases date back to 2009, when the FTC sued Solvay Pharmaceuticals for repaid Watson Pharmaceuticals, Par Pharmaceutical Co and Paddock Laboratories in order to delay the release of a generic version of AndroGel, a whitening cream. testosterone. Watson now belongs to Teva.
The second case dates from 2014 and also concerns AndroGel. In this case, AbbVie Inc, who had acquired the drug, was charged with paying Teva and another generic manufacturer to further delay the publication of a less expensive version of the drug.
In the third case, Endo Pharmaceuticals was accused of paying generic drug companies, including Watson, for that they refrain from releasing a generic version of Lidoderm, used to relieve nerve pain.
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