The European Union has imposed a $502 million fine on Teva, the world’s largest generic drugmaker, for “abusing its dominant position” to stifle competition for its popular multiple sclerosis drug.
The Israeli company announced on Thursday that it plans to appeal the EU’s decision.
According to the European Commission, the EU’s competition authority, Teva “artificially extended patent protection” on its drug Copaxone and “systematically spread misleading information” about a competing product to hinder its market entry and growth.
The EU claims Teva leveraged its market dominance over multiple sclerosis treatments in Belgium, Czechia, Germany, Italy, the Netherlands, Poland, and Spain.
“This decision to impose an antitrust fine on Teva for disparagement and patent misuse underscores the commission’s commitment to enforcing competition in the pharmaceutical sector,” said EU competition chief Margrethe Vestager.
Vestager added that the move “supports affordability of medicines, offers treatment choices, and encourages innovation to benefit EU patients and healthcare systems.”
Teva expressed “deep disappointment” over the ruling and said it would “vigorously defend its position on appeal.”
“Teva disagrees with the commission’s legal theories, which it believes are untested and unsupported by the facts,” the company stated.
This is not Teva’s first EU fine. In 2020, EU regulators penalized Teva and Cephalon, which Teva acquired, for colluding to delay a cheaper generic alternative for a sleep disorder drug. Teva has appealed that fine as well.
