U.S. Supreme Court Reverses U.S. Court of Appeals Decision in FTC v. Actavis
PARSIPPANY, N.J., June 17, 2013
PARSIPPANY, N.J., June 17, 2013 /PRNewswire/ -- Actavis, Inc. (NYSE: ACT)
today announced that the United States Supreme Court has reversed the decision
of the U.S. Court of Appeals for the Eleventh Circuit, which had affirmed the
District Court's ruling granting Actavis' motion to dismiss the Federal Trade
Commission's lawsuit, FTC v. Actavis, Inc. The Supreme Court's reversal was
the result of a decision by a 5 to 3 vote. The Court rejected the FTC's
proposed "quick look" approach and adopted the traditional "rule of reason" as
the standard. Justice Alito did not take part in the decision. The case was
remanded for further proceedings consistent with the opinion, and Actavis
intends to defend its position.
"We are pleased that the Court rejected the FTC's proposed 'quick look' test,
and did not rule that settlement agreements are presumptively unlawful.
Rather, the Court has established that the 'rule of reason' be applied, and
left it to the lower courts to determine if the benefits of the settlement
outweigh harm to consumers. We believe this decision continues to provide for
a lawful and legitimate pathway for resolving patent challenge litigation in a
manner that is pro-competitive and beneficial to American consumers. The
Court's ruling however, does place an additional and unnecessary
administrative burden on our industry," said Paul Bisaro, President and CEO of
Actavis. "Patent settlements have saved and continue to save consumers
billions of dollars, and ensure more-timely introduction of generic
competition. We plan to continue to defend the propriety of such settlements
against any further legislative or judicial challenges."
Actavis, Inc. (NYSE: ACT) is a global, integrated specialty pharmaceutical
company focused on developing, manufacturing and distributing generic, brand
and biosimilar products. Actavis has global headquarters in Parsippany, New
Operating as Actavis Pharma, Actavis develops, manufactures and markets
generic, branded generic, legacy brands and Over-the-Counter (OTC) products in
more than 60 countries.
Actavis Specialty Brands is Actavis' global branded specialty pharmaceutical
business focused in the Urology and Women's Health therapeutic categories.
Actavis Specialty Brands also has a portfolio of five biosimilar products in
development in Women's Health and Oncology. Actavis Global Operations has more
than 30 manufacturing and distribution facilities around the world, and
includes Anda, Inc., a U.S. pharmaceutical product distributor.
For press release and other company information, visit Actavis' Web site at
Statements contained in this press release that refer to non-historical facts
are forward-looking statements that reflect Actavis' current perspective of
existing information as of the date of this release. It is important to note
that Actavis' goals and expectations are not predictions of actual
performance. Actual results may differ materially from Actavis' current
expectations depending upon a number of factors affecting Actavis' business.
These factors include, among others, the difficulty of predicting the timing
or outcome of litigation, including potential private party or state
litigation concerning the Androgel® settlement, and risks that an adverse
outcome in such litigation could render Actavis liable for substantial
damages; the difficulty of predicting the timing or outcome of product
development efforts and FDA approvals or actions, if any; the impact of
competitive products and pricing; the timing and success of product launches;
difficulties or delays in manufacturing; the availability and pricing of third
party sourced products and materials; successful compliance with FDA and other
governmental regulations applicable to Actavis and its third party
manufacturers' facilities, products and/or businesses; and such other risks
and uncertainties detailed in Actavis' periodic public filings with the
Securities and Exchange Commission, including but not limited to Actavis'
Quarterly Report on Form 10-Q for the quarter ended March 31, 2013 and
Actavis' annual report on Form 10-K for the year ended December 31,2012.
Except as expressly required by law, Actavis disclaims any intent or
obligation to update these forward-looking statements.
Androgel^® is a registered trademark of Unimed Pharmaceuticals, LLC.
(Logo: http://photos.prnewswire.com/prnh/20130124/NY47381LOGO )
SOURCE Actavis, Inc.
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