Teva Pharmaceutical Industries Ltd. and its Cephalon unit were fined 60.5 million euros ($72 million) by the European Union for a pact that delayed sales of a cheaper version of a sleep-disorder drug.
Teva received cash payments and struck beneficial commercial side deals with Cephalon that stopped it from rolling out a generic version of Cephalon’s modafinil medicine, the European Commission said in an emailed statement. Their pay-for-delay pact lasted from 2005 until 2011, when Teva bought Cephalon for $6.2 billion.
Source: Bloomberg
