Read full antitrust settlement agreement of Ranbaxy US Drugmaker Teva agreeing to pay $300000

Read full antitrust settlement agreement of Ranbaxy US Drugmaker Teva agreeing to pay $300000

Ranbaxy Laboratories and US drugmaker Teva have jointly agreed to settle an investigation launched by the New York Attorney General over claims the two firms colluded to indulge in anti-competitive practices.

Ranbaxy had entered into an advance profit-sharing arrangement with Teva that said that should the Indian firm win the right to sell the generic version of Pfizer’s USD 11 billion cholesterol drug Lipitor (generic name avorstatin) when its patent expired in late 2011, the US firm would not challenge the claim. Ranbaxy eventually did go on to win the right in 2011.

After complaints were raised about the 2011 deal being anti-competitive in nature and a probe was launched, the two firms have now agreed to terminate the agreement and undertaken to not enter a similar arrangement in the future, along with paying the USD 3, 00,000 fine

Read the settlement agreement of Ranbaxy Laboratories and US drugmaker Teva





Suggested Reading -

Settlement Requires Ranbaxy And Teva To End Collusive Agreement And Refrain From Similar Conduct In The Future


Reality views by sm –

Thursday, February 20, 2014

Tags – Ranbaxy Teva Fine 300,000