EU fines world's largest generic drugmaker Teva for hindering competition

The European Commission imposed a fine of €462. 5 Million, on Teva the leading drug manufacturer globally for impeding competition related to its popular multiple sclerosis treatment Copaxone.

On Thursday the commission declared that Teva had unfairly prolonged patent protection for Copaxone by misusing its position. Additionally they accused Teva of spreading information about a rival product, in an attempt to obstruct its market entry and adoption.

In 2022 it accused Teva of engaging in competitive behavior regarding the medication initially.

Margrethe Vestager mentioned that the EUs act of penalizing Teva for defamation and improper use of the patent system underscores the commissions dedication to upholding competition, in the pharmaceutical industry.

She also mentioned that the commissions actions help in ensuring that medications remain affordable and provide patients, in the EU with a variety of treatment options while promoting innovation that benefits both patients and national healthcare systems.

The commission accused Teva of exploiting its position in the market for multiple sclerosis medication, across various European countries including Belgium, the Czech Republic, Germany, Italy, the Netherlands, Poland and Spain.

It was also mentioned that Teva utilized patent processes improperly and directed information towards doctors and officials responsible, for setting prices and reimbursments for medications regarding the "safety " effectiveness," and "therapeutic equivalence of a competing drug to stall competition and extend Copaxones exclusivity period."

On Thursday Teva expressed disappointment in the ruling and stated that it plans to vigorously challenge the decision, in court.

"Teva operates in compliance with laws and ethical standards while serving as an ally, to Europes people and healthcare infrastructure."

Teva has faced fines in the EU before; back in 2020, for instance when the pharmaceutical company and Cephalon were fined €60 million for colluding to set prices for the sleep disorder drug modafinil.

In addition to facing consequences within the EU region for their actions in relation to modafinil in 2015 and receiving a hefty $ 12 billion fine from antitrust investigators in the US as a result of anti. Competitive behavior the company also encountered legal issues in 2020 concerning allegations of manipulating prices, for generic drugs like a widely used cholesterol medication.