The lawsuits centered on deals known as “pay for delay,” in which a brand-name drugmaker pays or compensates a generic rival to delay releasing a cheaper version of its product. The deals are often made to resolve patent litigation.
Under the settlement, Teva will be prohibited from making these agreements with rivals. The FTC did not fine the generic drugmaker.
The FTC ruled that paying rivals not to enter the market is a violation of antitrust law.
“This broad settlement prevents the world’s largest manufacturer of generic drugs from entering into collusive agreements that prevent price competition by keeping generic drugs off the market,” FTC Chairman Joe Simons told Reuters.
Read the full report here.
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