Apotex Corp. Resolves US Federal Government Antitrust Investigation Regarding Generic Drug Pricing

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May 07, 2020, 13:07 ET

Weston, FL, May 7, 2020 /PRNewswire/ - Apotex Corp. has reached a resolution with the U.S. Department of Justice (DOJ) Antitrust Division concerning the Department's years long antitrust investigation into the U.S. generic drug industry. The fine imposed relates to sales of a single product by Apotex Corp., which as part of the resolution, has agreed to pay US$ 24.1 million and will enter into a deferred prosecution agreement (DPA). Subject to the conditions set forth in the DPA, we believe this fully resolves the matter with respect to Apotex Corp.

Roberta Loomar, Vice-President, General Counsel-US of Apotex Corp., said: "Compliance is something we take very seriously, including our compliance with antitrust laws. This activity, occurring several years ago, was clearly against our established compliance policies, training and culture. With this resolution, we are highlighting our commitment to continually improve our compliance and training programs, as well as evolve our controls to ensure full compliance with all antitrust laws." Under the terms of the agreement, Apotex Corp. will continue to take steps to enhance its compliance program, employee training and monitoring.

Apotex Corp. is a US based company, headquartered in Weston, Florida. It and its global affiliates are leaders in generic pharmaceuticals and biosimilars and are committed to supplying patients with a broad portfolio of high-quality, affordable medicines covering all major therapeutic areas. Its commitment to patients has continued during the COVID-19 crisis. Apotex Corp. has donated over US$1 million of products to the US government for use by FEMA or the National Stockpile. Its global affiliates have also donated two million dosages of hydroxychloroquine to the Canadian government for use in clinical trials studying the medication as a possible treatment for COVID-19, as well as thousands of N95 surgical masks and hand sanitizer to healthcare organizations.

SOURCE Apotex Corp.