Teva to pay $512 million to settle claims of delayed generic Provigil

April 20, 2015 3:19 PM

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Teva to pay $512 million to settle claims of delayed generic Provigil

(Reuters) - Teva Pharmaceutical Industries Ltd has agreed to pay $512 million to settle a class action claiming that Cephalon Inc, which Teva bought in 2011, used anticompetitive settlements to delay generic versions of its wakefulness drug Provigil, according to court papers.

The settlement is the largest ever to be paid to drug buyers that bought directly from manufacturers over allegations of delaying generic drugs, according to a motion to approve the settlement filed on Friday in Philadelphia.

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