Health Law & Business News

Teva, Endo Settle With California Over Delayed Generic Drugs (1)

July 29, 2019, 5:37 PMUpdated: July 29, 2019, 8:32 PM

Teva Pharmaceutical Industries, Endo Pharmaceuticals, and Teikoku Pharma entered into settlements with California totaling nearly $70 million over inter-company agreements that kept more affordable drugs off the market, California Attorney General Xavier Becerra announced July 29.

The settlements address so-called “pay-for-delay” agreements—deals in which brand name drugmakers pay generic companies to keep a lower-cost product off the market, thus maintaining a monopoly and high prices after an original drug patent expires.

“These aren’t purchases people can skip for a month when they don’t fit into their budget, so we have to do what we can to make sure people have...

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