Denying any wrongdoing or admission of liability, Teva has agreed to a proposed settlement of $420m with a class of investors following allegations that the firm had concealed the true nature of its increase in profits, which artificially inflated the price of Teva’s securities.
Teva Pharmaceutical Industries Ltd. has agreed to pay $420m to a class of shareholders and noteholders to resolve multiple accusations of securities fraud, including for gains received from its alleged involvement in generic price fixing.
Class counsel Bleichmar Fonti & Auld summarized that the class action suit had arisen from allegations that Teva and its senior executives “falsely denied and concealed from the public” numerous large generic drug price
Eight more ANDA filers remain in play challenging patents shielding Esperion’s Nexletol (bempedoic acid) after Micro Labs deal out litigation via a settlement agreement.
Hikma said it would admit no wrongdoing or liability after reaching a preliminary settlement agreement over illicit ‘pay-for-delay’ claims involving its US version of Xyrem “that protects the company’s interests and provides clarity to our stakeholders.”
Viatris will look to introduce generic versions of Heron Therapeutics’ aprepitant brands, Cinvanti and Aponvie, around three years before patent expiry after settling litigation with the originator. Other court cases remain ongoing.
Stelara originator J&J has been denied in its initial attempt to prevent Samsung Bioepis and ustekinumab biosimilar partner Sandoz from selling a private-label version of the product through a PBM in the US.
