The US Federal Trade Commission (FTC) announced on Monday, January 25, that it has filed a lawsuit against Endo Pharmaceuticals and Impax Laboratories that alleges a 2017 agreement eliminated competition between the companies for the pain medicine oxymorphone ER, reported Reuters.
In addition to Endo Pharmaceuticals and Impax Laboratories, the lawsuit names as defendants Endo International and Impax’s owner, Amneal Pharmaceuticals, the agency stated.
The US Food and Drug Administration had asked Endo in June 2017 to pull its extended-release oxymorphone product off the market because of concerns that it was vulnerable to intravenous abuse, the FTC stated.
That left Impax’s generic extended-release version of the medicine alone on the market. Rather than reformulate its drug, Endo struck a deal with Impax in August 2017 to refrain from re-entering the market, the FTC stated.
“The agreement eliminated potential competition from Endo by sharing Impax’s monopoly profits, with Endo in the role of a potential entrant paid to stay out of the market,” the FTC said in a statement.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
FTC Urged to Enforce Rarely Used Antitrust Law Against Retail Giants
Mar 28, 2024 by
CPI
UK’s Fingleton Bolsters Team with New Additions
Mar 28, 2024 by
CPI
Britain’s Competition Regulator Clears Aviva’s Acquisition of AIG Life UK
Mar 28, 2024 by
CPI
White House Implements New AI Safeguards to Protect Rights and Safety
Mar 28, 2024 by
CPI
Denver Court Sets August Date for Kroger-Albertsons Merger Showdown
Mar 28, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Real Estate & Antitrust
Mar 27, 2024 by
CPI
Systematic National Evidence of Steering by Real Estate Agents
Mar 27, 2024 by
CPI
Compliance Now! Actionable Antitrust Advice for the Residential Real Estate Industry
Mar 27, 2024 by
CPI
Real Estate Commissions: Some Insights from the Economics of Multi-Sided Platforms
Mar 27, 2024 by
CPI
New Ideas for Promoting Real Estate Brokerage Price Competition
Mar 27, 2024 by
CPI