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EU Fines Drug Makers For Keeping Cheap Medicine Off Market

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European Commissioner for Europe fit for the Digital Age Margrethe Vestager speaks during a media conference on European Data Governance at EU headquarters in Brussels, Wednesday, Nov. 25, 2020. (Stephanie Lecocq, Pool via AP)

The European Union has fined two pharmaceutical companies for colluding to keep a cheap alternative to a sleep disorder medicine off the market for their profit and at the expense of patients. The EU’s antitrust commissioner said that Teva pharmaceuticals and Cephalon, a company it later acquired, must pay the equivalent of $72 million. The EU says the companies had agreed among themselves to delay for years the launch of Teva’s cheaper version of Cephalon’s blockbuster Modafinil. In return for the delay, Teva got beneficial side deals and some payments. Teva did not immediately respond to a request for comment.

 

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