XM does not provide services to residents of the United States of America.

Teva sues Corcept over mifepristone 'monopoly' for rare disorder



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>Teva sues Corcept over mifepristone 'monopoly' for rare disorder</title></head><body>

By Mike Scarcella

June 13 (Reuters) -Teva Pharmaceuticals TEVA.TA sued rival drugmaker Corcept Therapeutics CORT.O in federal court in San Francisco on Thursday, accusing it of monopolizing the market for mifepristone-basedKorlym, used to treat a rare hormonal disorder called Cushing's syndrome.

The lawsuit said Corcept and specialty pharmacy Optime Care, the sole distributor of Korlym, orchestrated “a multifaceted scheme to prolong Corcept’s monopoly by stifling competition from Teva at every turn.” Teva accused Corcept of "paying bribes and kickbacks" to physicians to keep them prescribing brand Korlym.

Korlym's active ingredient is mifepristone, the same drug used for medication abortion at the center of Thursday’s U.S. Supreme Court ruling that rejected a legal challenge seeking to curtail access to the drug for terminating pregnancies.

Teva's antitrust lawsuit, which does not refer to the drug's use for abortion, said Corcept and Optime have a long-term exclusive-dealing arrangement that bars Optime from distributing any medication that competes with Korlym.

Corcept and Optime did not immediately respond to requests for comment on Thursday.

Teva in a statement said that Corcept's anticompetitive conduct "has prevented patients with Cushing’s syndrome from accessing lower-cost generics to treat their debilitating disease.”

Cushing’s, caused by too much of the hormone cortisol in the body, affects about 20,000 people in the United States and can be fatal, the lawsuit said. Symptoms include abnormal weight gain and a fatty hump between the shoulders.

Teva said it launched its generic version of Korlym five months ago, but “during that time Teva has captured close to zero market share.”

The lawsuit said Teva has tried to convince Optime to distribute Teva's generic Korlym, but Optime has refused.

"Optime’s representatives made clear that there was nothing Teva could do to gain access to the Optime distribution channel," according to the lawsuit.

Teva accused Corcept of artificially inflating the cost of Korlym based on the company’s market power. The lawsuit said a year’s supply of the drug can be “several hundred thousand dollars or more.”

Corcept sued Teva in 2018 in New Jersey federal court for allegedly infringing on Korlym patents. A judge ruled for Teva last year, and Corcept has appealed.



Reporting by Mike Scarcella
Editing by David Bario and Rod Nickel

</body></html>

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.