Teva to lay out $512M to settle pay-to-delay lawsuit

Teva Pharmaceutical Industries Ltd. will pay $512 million to resolve litigation alleging Cephalon — a Chester County biotechnology company Teva bought in 2011 for $6.8 billion — improperly delayed the launch of generic versions of its flagship sleep disorder drug Provigil. A report by Reuters said the proposed settlement is the largest ever to be paid to drug wholesalers and retailers over allegations of delaying generic drugs. The settlement agreement must still be approved by Judge Mitchell…
Source: bizjournals.com Health Care:Biotechnology headlines - Category: Biotechnology Authors: Source Type: news