Teva Under Suspicion On Practices To Stave Off Copaxone Competition

The European Commission, in an interim view, says Teva Pharmaceutical Industries Ltd TEVA breached European Union (EU) antitrust rules over practices delaying competition to the multiple sclerosis drug Copaxone.
"Effective protection of intellectual property is key to this scientific progress. Our concern is that Teva may have misused the patent system to shield itself from competition," Reuters reported citing the Commission's competition policy head Margrethe Vestager.
Also see: Teva To Start Nationwide Settlement Of Opioid Lawsuits From Next Year.
Between October 2019 - March 2021, the Commission conducted unannounced inspections at the premises of several Teva subsidiaries over its practices linked to Copaxone.
Suppose the European Commission's preliminary views are confirmed. In that case, Teva's behavior will infringe Article 102 of the Treaty on the Functioning of the European Union, which prohibits the abuse of a dominant position.
Price Action: TEVA shares traded 0.59% lower at $8.41 during pre-market trading on Monday.