Wednesday, June 13, 2012

CVS, Rite Aid sue Pfizer over Effexor XR


(Reuters) - CVS Caremark Corp and Rite Aid Corp filed an antitrust lawsuit accusing Pfizer Inc and Teva Pharmaceutical Industries Ltd of conspiring to keep generic versions of the popular antidepressant Effexor XR off store shelves.
Only on
'Maple Spring' protests: Crackdown roils Quebec
Congress eyes law on rental firms’ recalled cars
MRI and CT scan use spikes, study finds
Analysis: Sandusky defense fails to dent damning testimony
Scientists create 'Facebook for birds'
Vatican takes on 'radical' US nuns
Al-Qaida No. 2, said killed in Pakistan, appears in new video
The lawsuit escalates court battles over alleged delays in the launching of generic versions of Effexor XR. It comes just six months after several other large retailers filed an antitrust lawsuit making similar claims.
In a complaint filed Tuesday with the federal court in Trenton, New Jersey, CVS and Rite Aid accused Pfizer's Wyeth unit of scheming to block generic versions of Effexor XR for at least two years after its marketing rights to the original compound lapsed in June 2008.
They said Wyeth did this by obtaining fraudulent patents, engaging in sham litigation against Teva and 16 other generic drug makers, and scheming with Teva to keep cheaper generic equivalents off the market and prolong Teva's generic exclusivity rights. U.S. sales of Effexor XR topped $2.5 billion annually during this period, they said.
"Plaintiffs have sustained substantial injuries to their business and property in the form of overcharges," the complaint said. CVS and Rite Aid are seeking triple damages and other remedies. Rite Aid's Brooks and Eckert units are also among the plaintiffs.

Posted via email from Jack's posterous

No comments: