In a complaint filed in a U.S. court, Pfizer and Teva have been accused by five prescription drug retailers of violating antitrust law by conspiring to delay the launch of a generic version of Effexor XR (venlafaxine). Teva launched a generic version of the antidepressant in July last year under the terms of a 2006 settlement agreement with Pfizer.
The retailers, which include Walgreen and Kroger, claim that Pfizer's Wyeth unit "engaged in an overarching anticompetitive scheme to prevent and delay the approval and marketing of generic versions of Effexor XR." According to the suit filed in district court in Trenton, New Jersey, Wyeth did this by obtaining fraudulent patents, engaging in "sham litigation," and entering a price-fixing agreement with Teva. "As a result of defendants' exclusionary conduct, generic versions of Effexor XR were illegally blocked from the marketplace from June 2008 through at least June 2010," the complaint noted.
Pfizer spokesman Christopher Loder said the company "categorically denies the claims," adding that "Wyeth obtained its patents protecting Effexor XR lawfully, and the company intends to defend itself vigorously against these claims." Teva spokeswoman Denise Bradley remarked that the drugmaker believes the lawsuit has no merit.
Global sales of Effexor XR in the nine months ended September 30 reached $537 million, down 64 percent from a year earlier, mainly reflecting increased generic competition.