EU opens Teva antitrust probe

copaxone

According to a report by Reuters, the investigation relates to Teva's multiple sclerosis treatment Copaxone.

The European Commission has begun an investigation of Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) on suspicion that it abused its dominance in relation to its multiple sclerosis treatment Copaxone, a senior EU official told Reuters on Friday.

The EU's antitrust authority conducted raids of Teva offices in October last year and in January this year, the report said.

This is not the first time that Teva has tangled with the EU. In 2014, the company was fined, along with five other pharmaceuticals companies, after they were found to have prevented competitors from introducing cheaper drugs for treating heart disease into the EU.

Three months ago, the US Department of Justice indicted Teva in the Philadelphia Federal Court on charges of price fixing, alleging that the company colluded with its competitors in the generic drugs market to raise prices.

Published by Globes, Israel business news - en.globes.co.il - on November 15, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

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