Teva To Pay $512M To End Provigil Pay-For-Delay Dispute

Law360, New York (April 20, 2015, 3:38 PM EDT) -- Teva Pharmaceutical Industries Ltd. and subsidiaries Cephalon Inc. and Barr Pharmaceuticals Inc. have agreed to pay $512 million to settle with the direct purchasers in pay-for-delay litigation over Cephalon’s narcolepsy drug Provigil, according to court documents filed Friday.

The direct-purchaser class plaintiffs, including King Drug Co. of Florence Inc., urged a Pennsylvania federal judge to preliminarily approve the deal, under which the drugmakers will pay $512 million in cash into an escrow fund for the class, in exchange for the litigation's dismissal with prejudice.

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