The European Commission has imposed a hefty fine of more than 460 million euros ($500 million) on Israeli pharmaceutical company Teva for engaging in improper practices related to its multiple sclerosis drug, Copaxone. The commission found that Teva had misused the patent system to artificially extend the patent protection of Copaxone, which contains the active ingredient glatiramer acetate.
In addition to this, Teva was also found guilty of conducting a disparagement campaign against Synthon, a competitor with an authorized drug in Europe containing glatiramer acetate. The commission stated that Teva spread misleading information to cast doubt on the safety, efficacy, and therapeutic equivalence of Synthon's product, with the aim of impeding its entry into various European markets.
By engaging in these practices, Teva may have hindered potential cost savings for countries across Europe, as alternative versions of the drug could have been up to 80% cheaper than Copaxone. As a result, Teva has been ordered to pay a substantial fine and has been instructed to refrain from similar actions in the future.
This is not the first time Teva has faced legal repercussions for its business practices. Last year, the company was required to pay $225 million to settle price-fixing charges in the United States related to the sale of a cholesterol-lowering drug. As part of the settlement, Teva had to divest its business involved in manufacturing and selling the generic version of the brand-name medicine Pravachol.
Despite these developments, representatives for Teva have not yet provided any comments on the recent ruling by the European Commission.
