How A Small Indian Firm Firm Was Pulled Into A Legal Battle with Big Pharma Over A Cancer Drug
Portfolio Pulse from Arpit Nayak
Blue Cross and Blue Shield of Louisiana has filed a class action lawsuit against Bristol-Myers Squibb (BMY) and Teva International (TEVA), accusing them of unlawfully extending the exclusive marketing period for the anti-cancer drug, Pomalyst. The lawsuit alleges patent fraud, misrepresentation of data, and anti-competitive practices, including paying off competitors to drop legal challenges. India-based Natco Pharma, alongside Aurobindo and Eugia, has been named as a defendant in the lawsuit.
September 11, 2023 | 1:18 pm
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NEGATIVE IMPACT
Bristol-Myers Squibb is facing a class action lawsuit over alleged patent fraud and anti-competitive practices related to the cancer drug, Pomalyst.
The lawsuit alleges that Bristol-Myers Squibb unlawfully extended the exclusive marketing period for the anti-cancer drug, Pomalyst, and engaged in anti-competitive practices. This could potentially lead to legal penalties and reputational damage, negatively impacting the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Teva International is named as a defendant in a class action lawsuit over alleged patent fraud and anti-competitive practices related to the cancer drug, Pomalyst.
Teva International is named as a defendant in the lawsuit, which alleges patent fraud and anti-competitive practices. This could potentially lead to legal penalties and reputational damage, negatively impacting the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80