Published May 28, 2015 9:28am EDT | Updated May 28, 2015 10:21pm EDT

FTC Says Teva To Pay $1.2 Billion To Settle Claim Of Blocking Generic Competition

The Federal Trade Commission said Teva Pharmaceutical will pay $1.2 billion to settle a lawsuit that there was illegally blocking of generic competition of sleep-disorder drug Provigil. The money will be made available to compensate purchasers, including drug wholesalers, pharmacies, and insurers, who overpaid because of Cephalon's illegal conduct, the FTC said. Teva bought Cephalon in 2012.