FTC Crackdown on Teva Pharmaceuticals Over Inhaler Patent Abuse - Teva Pharmaceutical Indus (NYSE:TEVA)

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Loading... Loading... The Federal Trade Commission (FTC) has initiated an investigation into Teva Pharmaceutical Industries Ltd TEVA over its refusal to remove about two dozen patents for its asthma and COPD inhalers. This move comes amid accusations that Teva has engaged in practices to maintain market exclusivity and block generic competition. Related: Federal Trade Commission Targets’ Junk Patent Listings’ For Diabetes, Weight Loss, Asthma Drugs From Companies Like Novo Nordisk, AstraZeneca. Confidential agency documents reviewed by The Washington Post revealed that the FTC last week issued a civil investigative demand, effectively a subpoena, to Teva. This demand compels the company to provide internal communications, analysis, and financial data related to the patents listed in the federal registry known as the Orange Book. The FTC argues that pharmaceutical companies, including Teva, have made minor product adjustments to keep these patents in the Orange Book, thereby preventing cheaper generic alternatives from entering the market. This practice has led to significantly higher prices for inhalers in the United States, while the same products are sold for much less overseas. Earlier this month, Teva Pharmaceutical said it was in active discussions to settle a lawsuit with the U.S. Department of Justice. The lawsuit alleges Teva used charitable organizations to cover Medicare patients’ out-of-pocket costs, effectively paying kickbacks to boost sales of its multiple sclerosis drug, Copaxone. Reuters report adds that Teva has to comply with the agency’s demand by July 24. In a statement to Reuters, Teva said it “believes that its patents are properly listed in the Orange Book and continues to stand behind the company’s intellectual property.”. Read Next: Price Action: TEVA shares are up 0.55% at $16.34 at the last check on Monday. Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Photo by Ralf Liebhold via Shutterstock