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From the Liveblog of
Monday, July 17, 2017
From the Liveblog of
Monday, July 17, 2017
EU charges Israel’s Teva over delaying cheap sleep drug
Add ToI as a Preferred Source on GoogleEuropean Union regulators file antitrust charges against Israeli drug-maker Teva for colluding to delay a cheaper generic version of modafinil, a blockbuster sleep drug.
The European Commission says in a statement that it had informed Teva of its “preliminary view” that an agreement concluded with rival Cephalon was in breach of EU antitrust rules.
Under the agreement, Teva committed not to market a cheaper generic version of modafinil, Cephalon’s drug for sleep disorders, the EU says.
The EU, under the stewardship of Competition Commissioner Margrethe Vestager, says Teva had agreed to the delay in return for “a substantial transfer of value from Cephalon through a series of cash payments and various other agreements.”
— AFP
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