Congressional Probe Turns Up Heat on Teva

According to a new congressional report, Teva repeatedly raised prices on its lucrative multiple sclerosis drug Copaxone for years, using aggressive strategies to grow its market and fend off competition despite previously losing exclusivity. The House Committee on Oversight and Reform reviewed over 300,000 pages of Teva’s internal documents. Based on that review, they released a 55-page report on Wednesday detailing Teva’s history of price hikes for Copaxone and the drugmaker’s attempts to to quash competition and fight pricing reform. In addition to the Teva brief, the committee released another report detailing Celgene and Bristol Myers Squibb’s strategies for Revlimid. Read more here.

(Source: Eric Sagonowsky Fierce Healthcare, Sep 30, 2020)