FTC Approves Teva Petition to Give Pfizer More Time to Sell Drug

   By Patrick Thomas 
 

The Federal Trade Commission said Tuesday that it approved a petition from Teva Pharmaceutical Industries Ltd. (TEVA, TEVA.TV) to reopen a 2012 decision that limited the amount of time Pfizer Inc. (PFE) can sell the drug Embeda.

In 2012, Watson Pharmaceuticals Inc. and Actavis Inc. merged in a $5.92 billion deal that made Watson the world's third-largest maker of generic drugs. The FTC alleged at the time that the merger might lessen future competition for some generic drugs, including the abuse-resistant opioid painkiller Embeda.

The commission ordered Watson and Actavis to supply Embeda to Pfizer Inc. for no longer than four years after Pfizer's relaunch of Embeda in 2015. The FTC also required Watson and Actavis to transfer technology for manufacturing Embeda to Pfizer or a third party. In 2016, Teva acquired Actavis's rights and obligations under the Embeda supply agreement and continued Watson's plans to develop a generic version of Embeda.

In its petition, Teva says Pfizer has not completed the tech transfer of Embeda manufacturing to a third party so Teva can produce its own version of the generic drug. Due to the four-year supply limitation, Pfizer can't sell the drug after December, preventing patients from filling Embeda prescriptions. At Pfizer's request, Teva said it wants to extend the Embeda supply agreement for an additional period, allowing patients access to the drug.

Write to Patrick Thomas at [e-mail]

(END) Dow Jones Newswires

December 18, 2018 15:54 ET (20:54 GMT)

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