European Union regulators on Monday filed antitrust charges against Israeli drug-maker Teva for colluding to delay a cheaper generic version of modafinil, a blockbuster sleep drug. EC said in a statement that it had informed Teva of its "preliminary view" that an agreement concluded with rival Cephalon was in breach of EU antitrust rules.
Under the agreement, Teva committed not to market a cheaper generic version of modafinil, Cephalon's drug for sleep disorders, the EU said. The EU, under the stewardship of Competition Commissioner Margrethe Vestager, said Teva had agreed to the delay in return for "a substantial transfer of value from Cephalon.
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