UPDATE 2-EU fines Teva, Cephalon over pay-for-delay drug deal [Reuters]
Johnson & Johnson (JNJ)
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Source: Reuters
By Philip Blenkinsop 2 Min Read BRUSSELS (Reuters) - The European Commission has fined pharmaceutical company Teva and its now subsidiary Cephalon 60.5 million euros ($72 million) for agreeing to delay a cheaper generic version of Cephalon’s sleep disorder medicine. The fine is the fourth and final penalty following a series of EU antitrust investigations begun 11 years ago into “pay-for-delay” drug deals. Previous fines in 2013 and 2014 related to a cardiovascular medicine of Servier, an anti-depressant of Lundbeck and a Johnson & Johnson painkiller. The agreement with Teva to delay the market entry of the generic drug modafinil after Cephalon’s main patents had expired caused substantial harm to EU patients and healthcare systems by keeping the price high, the Commission said on Thursday. Modafinil is used to treat excessive daytime sleepiness associated with narcolepsy and was Cephalon’s top-selling product under the brand Provigil for years, accounting for 40% of Cephalon’s world
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