N.Y. Settles Probe Of Generic Drug Manufacturers
ALBANY, N.Y. (AP) -- New York's attorney general has announced a settlement with generic drug manufacturers Ranbaxy Pharmaceuticals and Teva Pharmaceuticals USA intended to ensure they don't collude to restrict competition.
According to Attorney General Eric Schneiderman, the settlement ends their 2010 agreement against competing over dozens of drugs.
So-called "first to file" exclusivity protects a generic manufacturer from competition for 180 days, when prices are generally higher than after exclusivity expires.
In this case, investigators say Ranbaxy and Teva agreed not challenge each other's exclusivities for many drugs.
In the agreement signed this week, the companies admit no wrongdoing, each agree to pay the state $150,000 and to neither enforce nor follow the so-called "no challenge provision" or enter similar agreements for drugs sold in New York.