Pharmaceutical Industry
Teva pays $1.2 billion to settle pay-for-delay allegations

Federal regulators announced Thursday that Teva Pharmaceuticals Industries will pay $1.2 billion to settle charges that one of its subsidiaries illegally blocked the launch of low-cost generic versions of the blockbuster sleeping pill Provigil. The settlement is a major victory in the federal government's ongoing campaign against a common drug industry practice known as "pay-for-delay" deals. Drugmakers have long maintained that the deals help resolve costly patent litigation between branded drugmakers and their generic competitors. But Federal Trade Commission officials have argued for over a decade that the agreements keep cheaper forms of medicines off the market,...