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Effexor lawsuit hits Pfizer, Teva

Published 06/15/2012 12:00 AM
Updated 06/14/2012 10:50 PM

Two drugstore giants are accusing Pfizer Inc. and Teva Pharmaceutical Industries Ltd. of delaying consumers' access to the generic version of antidepressant Effexor XR.

According to Reuters, CVS Caremark Corp. and Rite Aid Corp. have filed an antitrust lawsuit in a New Jersey federal court against the pharmaceutical companies six months after several other retailers made similar claims.

They accuse Pfizer's Wyeth division of obtaining fraudulent patents and Teva of conspiring to keep generic equivalents off the market to allow Teva a longer sales life for its more expensive generic version of the extended-relief version of Effexor.

- Lee Howard

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