Celgene To Pay $62M To End Antitrust Suit Over Cancer Drugs

By Khorri Atkinson (July 31, 2019, 4:38 PM EDT) -- Pharmaceutical company Celgene Corp. has agreed to fork over $62 million to resolve claims that it has suppressed competition for the brand-name cancer drugs Thalomid and Revlimid by preventing lower-priced generic versions from entering the market.

Drug giant Mylan Pharmaceuticals Inc. announced the deal on Monday in a filing with the U.S. Securities and Exchange Commission, a move that would end its five-year-long litigation in New Jersey federal court against Celgene for allegedly stifling the sales of the two drugs, which treat a blood cancer called multiple myeloma.

Mylan did not disclose the terms of the agreement, and attorneys for the companies...

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