Drugmaker Apotex accuses Amarin of Vascepa monopoly in US lawsuit

Amarin

17/06/2024 17:24

By Mike Scarcella
       June 17 (Reuters) - Drugmaker Apotex has sued its rival
Amarin  AMRN.O  in federal court in New Jersey, accusing it of
thwarting competition for a generic version of its heart drug
Vascepa and causing wholesalers and other buyers to pay
artificially higher prices.
    The lawsuit, filed on Friday, said Amarin “has engaged in a
calculated anticompetitive scheme” for more than a decade to
protect Vascepa from drugmakers that want to market a lower-cost
generic.
    Vascepa is used to lower harmful fat levels in people's
bloodstreams. Its active ingredient is a type of omega-3 acid
derived from fish oil. 
    Apotex alleged Amarin’s suppliers agreed not to sell
Vascepa's active ingredient to Apotex and other generic
drugmakers, creating a “barrier to entry” in violation of U.S.
antitrust law, according to the lawsuit.
    Amarin, based in Dublin, and Toronto-based Apotex did not
immediately respond to requests for comment. None of Amarin’s
suppliers are named as defendants in the lawsuit. 
    Apotex is seeking unspecified monetary damages and other
penalties. The company said it had lost “many millions of
dollars of damages in the form of lost profits” since at least
mid-2021.
    The lawsuit said Amarin has promised its suppliers “highly
lucrative terms” to incentivize them from doing business with
rival drugmakers.
    Amarin’s purchasing agreement with BASF cost the pharma
company between $10 and $20 million per year to keep
exclusivity, according to the lawsuit.
    Apotex alleged Amarin locked up more deals than necessary
with suppliers in order to stymie future generic competition.
    
  
    The case is Apotex Inc v Amarin Pharma Inc et al, U.S.
District Court, District of New Jersey, No. 3:24-cv-07041.
    For plaintiff: Christopher Dalton of Buchanan Ingersoll &
Rooney
    For defendant: No appearance yet
    
    Read more:
    Teva sues Corcept over mifepristone 'monopoly' for rare
disorder
    Ex-Sandoz exec gets probation for price-fixing after
cooperation deal
    Lawsuit claims Boehringer misused US patents to delay
asthma-drug rivals
    U.S. Supreme Court denies Amarin’s bid to revive Vascepa
drug patents


 (Reporting by Mike Scarcella)
 ((Mike.Scarcella@thomsonreuters.com;))