Ovation Hiked Drug Price Almost 1,300 Percent: FTC

Law360, New York (December 16, 2008, 12:00 AM EST) -- Ovation Pharmaceuticals Inc. is “strongly disputing” the claims in a lawsuit the U.S. Federal Trade Commission filed Tuesday that accuses Ovation of jacking up the price for a drug used to treat a heart condition in premature infants after cornering the market in 2006.

The FTC filed its complaint against Deerfield, Ill.-based Ovation in the U.S. District Court for the District of Minnesota, claiming that Ovation's acquisition of the U.S. rights to the drug NeoProfen in January 2006 from Abbott Laboratories Inc. stymied competition in violation...
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