A $75 Million Drug Sale Lands Teva a $235 Million Penalty (1)

Teva Pharmaceutical Industries Ltd.’s sale of $74.5 million of a generic heart treatment resulted in a court ruling ordering it to pay a penalty three times that amount to reimburse GlaxoSmithKline Plc.

A U.S. appeals court on Friday said Teva should pay $235 million over its sale of a generic version of Glaxo’s heart drug Coreg. A trial court had thrown outa verdict won by Glaxo, but the U.S. Court of Appeals for the Federal Circuit, in a 2-1 ruling, reinstated both the infringement finding and the damages award, which was based on the profits Glaxo lost. ...