Post by miamianne67 on Aug 1, 2019 4:10:01 GMT
• Four pharmaceutical companies collectively are agreeing to pay California nearly $70M to settle allegations that they delayed generic narcolepsy drug, Provigil, from entering the market for nearly six years to keep prices high.
• The bulk of the money will come from Teva Pharmaceutical (NYSE:TEVA) and its affiliates, which are paying $69M, the largest pay-for-delay settlement received by any state.
• Teva said the money will come from a pre-existing fund that was created in 2015 as part of the company’s settlement with the FTC over similar claims, and it will not make any additional payments.
• The bulk of the money will come from Teva Pharmaceutical (NYSE:TEVA) and its affiliates, which are paying $69M, the largest pay-for-delay settlement received by any state.
• Teva said the money will come from a pre-existing fund that was created in 2015 as part of the company’s settlement with the FTC over similar claims, and it will not make any additional payments.