Three drugmakers settle with California over deals to keep generic medications off the market

  • 📰 latimes
  • ⏱ Reading Time:
  • 41 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 82%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Teva Pharmaceuticals Industries illegally maintained a monopoly over sales of narcolepsy drug Provigil by entering “pay-for-delay” agreements to keep a generic version off the market for almost six years, according to the state attorney general's office.

It’s bad enough drug companies charge sky-high prices for brand-name prescription meds and raise those prices with regular frequency.

The Israeli pharmaceutical firm will also be under an injunction preventing it from entering into pay-for-delay agreements for 10 years.for $1.2 billion.In the settlement agreement announced Monday, Teva denied all of the state’s claims of unlawful conduct and said the agreement was not an admission of liability.

Under a settlement reached last month, Endo will pay the state $760,000 and will be under an eight-year injunction preventing it from entering into further pay-for-delay agreements, Becerra’s office said. It said Teikoku will be under a 20-year injunction. if it engaged in pay-for-delay agreements, but that regulators could pursue such cases only on a case-by-case basis. At the time, the FTC said such agreements cost consumers and health plans $3.5 billion annually.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 11. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

This story makes my blood boil. My husband takes Provigil. Because it is so expensive, we have to fight with our insurer every time his Rx is up for renewal. It’s a pain in the ass.

Criminal monsters.

Unconscionable

Each horizon a plate Salt and fiber in the same verse The resolution of a story And the skin of water of a vertebra

Their greed knows no bounds. Disgraceful.

Canada Canada Latest News, Canada Canada Headlines