Teva agrees $225 million fee in antitrust case
Barr Laboratories, a subsidiary of Teva Pharmaceuticals, has settled an antitrust class action for $225 million. The case relates to a generic version of Bayer’s Cipro, an antibiotic, that was held by Barr Laboratories prior to its purchase by Teva. The case is in regards to ‘pay-to-delay’ cases that have begun to appear more regularly both in the news and the courts.
Bayer had previously settled the case in 2013, for having paid to ensure that the generic was not released onto the market. It has taken over three years for Barr to settle to its part in the deal, where it apparently received $398 million not to market the generic version of Cipro.
The case was brought about by a group of buyers who had purchased Cipro, claiming that the behaviour violated California’s antitrust law and artificially inflated the price of Cipro.
It comes as another financial blow to Teva, which only recently suffered from a $519 million fine for bribery charges across Russia, Ukraine and Mexico. This latest news does not have the same deleterious impact on its reputation, however, as the case dates back prior to the purchase of Barr Laboratories, by Teva, in 2008.
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