Teva rebuffs EU pay-for-delay charge at hearing - (NASDAQ via NewsPoints Desk)

  • Teva rejected EU antitrust charges that the company agreed to delay the launch of a generic version of Cephalon's sleep disorder drug modafinil, as reported NASDAQ Tuesday.

  • "Teva has responded to the statement of objections robustly, and has attended the oral hearing today," the company stated.

  • The case is examining Teva's agreement to settle a lawsuit accusing the drugmaker of infringing patents held by Cephalon.

  • Teva subsequently reached a deal to purchase Cephalon in 2011.

  • Teva could be fined up to 10 percent of the global sales of the drug for breaching EU antitrust rules.

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