THIS STORY HAS BEEN FORMATTED FOR EASY PRINTING

FTC: Drug makers delayed generics

Associated Press / February 3, 2009
  • Email|
  • Print|
  • Single Page|
  • |
Text size +

WASHINGTON - Federal regulators yesterday accused Solvay Pharmaceuticals and three generic drug makers of illegally agreeing to keep cheaper versions of a lucrative hormone-boosting drug off the market.

The lawsuit from the Federal Trade Commission alleges that Brussels-based Solvay agreed to share its profits with the generic firms provided they did not launch their low-cost versions until 2015. Androgel, a gel-based testosterone drug, is Solvay's best-selling product with US sales of more than $300 million.

Instead of competing against Solvay, the FTC claims the generic companies agreed to help market and manufacture Androgel.

"These agreements deny consumers the opportunity to purchase lower-cost generic versions of Androgel, at a cost of hundreds of millions of dollars a year," the FTC states in its complaint, filed in a US District Court in California.

Solvay said it would "use all necessary means to defend" the agreement.

  • Email
  • Email
  • Print
  • Print
  • Single page
  • Single page
  • Reprints
  • Reprints
  • Share
  • Share
  • Comment
  • Comment
 
  • Share on DiggShare on Digg
  • Tag with Del.icio.us Save this article
  • powered by Del.icio.us
Your Name Your e-mail address (for return address purposes) E-mail address of recipients (separate multiple addresses with commas) Name and both e-mail fields are required.
Message (optional)
Disclaimer: Boston.com does not share this information or keep it permanently, as it is for the sole purpose of sending this one time e-mail.