European Commission Imposes €463 Million Fine on Teva for Anti-Competitive Practices in MS Drug Market

Fine Amount:
The European Commission has fined Teva €463 million ($502 million) for abusing its market dominance to delay competition for its multiple sclerosis (MS) drug, Copaxone.

Reason for Fine:
The fine was imposed due to Teva's systematic attempts to block competition for Copaxone in Europe, which is considered an abuse of its dominant market position.

Date of Fine:
The fine was announced on October 31, 2024.

Impact:
This fine underscores the European Commission's commitment to enforcing antitrust laws and ensuring fair competition in the pharmaceutical industry.

Teva's Position:
Teva is the world's largest generic drugmaker, and this fine highlights the scrutiny it faces from regulatory bodies over its business practices.