The charges, filed in Philadelphia federal court, allege that Teva conspired with four other generic drug companies to fix prices, rig bids and allocate customers. Teva - which the Justice Department and New York's state government also sued this month for unrelated allegations - said it rejected the allegations.
The Wall Street Journal reported that at least six companies' disclosures that they had received subpoenas were related to the investigation, and subpoenas for additional companies are expected in the coming months.
The Israeli drugmaker, plus AmerisourceBergen, Cardinal Health and McKesson, reached the settlement with Ohio's Cuyahoga and Summit counties. Walgreens did not manage to reach an agreement.
More than three dozen states and Puerto Rico are part of the lawsuit, against Teva and more than a dozen generic manufacturers, alleging a scheme that saw some drug prices increase more than 1,000 percent.
The agency approved Truxima for three lymphoma indications, whereas European regulators approved it last year for all the same indications as the reference product, Roche's Rituxan.
The new company is headquartered in San Francisco, with R&D in Israel and has launched a Phase I study of BIO89-100, formerly TEV-47948.
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
Frost, formerly Teva's chairman, is alleged in a lawsuit filed Friday to have taken part in a pump-and-dump operation that netted $27 million over five years.
CMS failed to track subsidies paid to insurers under the PPACA putting $2.8 billion at risk for four months in 2014, Teva partnered with Microchips Biotech.
Current medical news and unique business news for anyone who cares about healthcare. Meet Teva’s Jeremy Levin. The former Bristol-Meyers Squibb and Novartis executive will take over the company in May 2012 when Shlomo Yanai retires. The switch means the company will go from an ex-general with no pharma experience to someone better able to […]
Kevin Buchi, the head of global branded products for Teva Pharmaceutical Industries (NASDAQ: TEVA), and Dr. Michael Rosenblatt, chief medical officer for Merck (NYSE: MRK), shared their views of the biotechnology and pharmaceutical industries and ways to improve innovation at Biotech 2011 this week. There were similar themes running through each man’s speech: Despite extending […]
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
Drug delivery company CIMA Labs in Brooklyn Park, Minnesota, will come under Israeli firm Teva Pharmaceutical Industries Ltd. (NASDAQ:TEVA) as part of Teva’s acquisition of CIMA parent company Cephalon Inc. (NASDAQ:CEPH), a pharmaceutical company which is based in Frazer, Pennsylvania. Teva and Cephalon announced today that Teva will pay $81.50 per share of each outstanding […]
BioSante Pharmaceuticals Inc. has received funding commitments totaling $18 million from two institutional investors. The company plans to use the proceeds to continue funding a Phase 3 clinical trial of LibiGel, a drug that treats under-active sexual desire in menopausal women. BioSante says it plans to seek approval from the U.S. Food and Drug Administration […]
