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Ftc suit against endo pharma9/19/2023 Grassley added that drug companies are still entering into agreements to stall drug competition, "leaving consumers to pay higher prices for prescription medications."īranded drugs typically lose up to 90 percent of their market share once a generic comes onto the market. ![]() The FTC's actions "are an important step in ending pay-off agreements that allow drug manufacturers to rake in huge profits while keeping cheaper generic drugs off the market," Klobuchar said. Senator Amy Klobuchar, a Democrat, and Republican Senator Chuck Grassley said in a statement that they have introduced legislation, "Preserve Access to Affordable Generics Act," to crack down on such arrangements. The FTC alleged, inter alia, that: (1) in June 2010, Endo, which produced Opana ER, impermissibly agreed to pay Impax to delay market introduction of its generic version of the drug and (2). Federal Trade Commission accusing Endo International Plc and Impax Laboratories of violating antitrust laws by striking. A spokesman for Impax was not immediately reachable. (Reuters) - A federal judge on Thursday tossed a lawsuit by the U.S. Watson, which was formerly owned by Allergan Plc (AGN.N), is now owned by Teva Pharmaceutical Industries Ltd (TEVA.TA). The complaint against those companies remains outstanding. Watson and Impax were also named in the FTC's lawsuit, which alleges the companies illegally blocked access to low-cost alternatives to Endo's products. It said the settlement is "consistent with the company's position that the Lidoderm and Opana ER settlements fully complied with the law both at the time they were executed and today." The proposed settlement must be ratified by a court.Įndo said it is not required to make any monetary payment to the FTC and made no admission of liability. The agency also alleged Endo paid Watson Laboratories Inc to delay introduction of a generic version of its Lidoderm pain treatment. The “yes” votes were acting Chair Rebecca Slaughter, Democrat Rohit Chopra, who has been nominated to head the Consumer Financial Protection Bureau, and outgoing former chairman Joseph Simons.The Federal Trade Commission had alleged Endo paid Impax Laboratories Inc (IPXL.O) to delay the introduction of a generic version of its painkiller Opana ER. The five-member commission voted 3-2 to authorize the lawsuit. NEW YORK, July 26 (Reuters) - Bankrupt drugmaker Endo International said on Wednesday the federal government's opposition to its bankruptcy sale threatened to undo nearly 600 million in. The agency has previously filed a lawsuit against the two companies regarding the same drug, it said. ('Amneal'), alleging that Endo and Impax's anticompetitive agreement and Impax's subsequent monopoly violate Sections 1 and 2 of the Sherman Act. “The company will vigorously defend itself against the FTC’s claims.” In February 2017, pursuant to the Stipulated Order described above, the FTC dismissed its claims against Par Pharma with prejudice. The FTC filed this action on January 25, 2021, against Endo, Endo International, Impax, and Amneal Pharmaceuticals, Inc. “Significantly, as Endo has explained to the FTC, the company has not launched or licensed any new opioid product(s) since that time, and the FTC’s theory that Endo would do so in the current litigation environment but for the agreement is preposterous,” Endo Executive Vice President Matthew Maletta said in a statement. “The agreement eliminated potential competition from Endo by sharing Impax’s monopoly profits, with Endo in the role of a potential entrant paid to stay out of the market,” the FTC said in a statement.Įndo said in a statement that the lawsuit was “meritless” and that its agreement with Impax “had no adverse impact on actual or potential competition.” Rather than reformulate its drug, Endo struck a deal with Impax in August 2017 to refrain from re-entering the market, the FTC said. ![]() That left Impax’s generic extended-release version of the medicine alone on the market. Food and Drug Administration had asked Endo in June 2017 to pull its extended-release oxymorphone product off the market because of concerns that it was vulnerable to intravenous abuse, the FTC said. In addition to Endo Pharmaceuticals Inc and Impax Laboratories LLC, the lawsuit names as defendants Endo International Plc and Impax’s owner, Amneal Pharmaceuticals Inc, the agency said. Federal Trade Commission said on Monday it has filed a lawsuit against Endo Pharmaceuticals and Impax Laboratories that alleges a 2017 agreement eliminated competition between the companies for the pain medicine oxymorphone ER.
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