Cephalon Gets Whacked For Illegal Marketing and Sales Practices
When are drug companies going to learn that monopolies are illegal in the US? The New York Times reported today that Pennsylvania-based Cephalon, the maker of sleep and pain drugs, has agreed to pay $425 million to settle a federal investigation into its sales and marketing practices. The company, maker of the sleep-disorder drug Provigil, was sued by the Pennsylvania Turnpike Commission in May over claims that the company sought to monopolize the drug market by delaying generic competition. Delaying generic competition? Sound familiar? You may want to ask Peter Dolan, former CEO of Bristol-Myers Squibb about his experiences with preventing generic competition for Plavix. I am sure you will get an earful.
Keep an eye on Cephalon for possible layoffs.
Until next time….
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