Healthcare Biz Roundup: Big Pharma SUED By Drug Stores, Teleflex PURCHASES LMA Int’l
Generic competition among pharmaceutical companies is not being realized, said the Federal Trade Commission on Monday, because they are reaching patent resolution agreements through which they pledge to not introduce their own copycat medicines. The Commission’s comments were made in a case involves CVS Caremark Corporation (NYSE:CVS) and Rite Aid Corporation (NYSE:RAD), who are suing Pfizer Inc. (NYSE:PFE) and TEVA Pharmaceutical Corporation Limited (NYSE:TEVA) for conspiring to prevent generic versions of the antidepressant Effexor XR from coming to stores
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Teleflex Inc. (NYSE:TFX) will purchase Singapore-traded LMA International for $276 million, which acquisition will add a worldwide market leader in laryngeal masks to its line of critical-care and surgical products. LMA has a direct selling presence on four continents, and earned a 2011 revenue of $124 million.
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