Fifth Circuit upholds FTC’s Impax decision in first fully litigated post-actavis reverse payment decision

Cleary Gottlieb, Kenneth Reinker, Bruce Hoffman, Kathleen Bradish and George Cary, 23 April 2021, Alert Memorandum

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On April 13, the U.S. Court of Appeals for the Fifth Circuit affirmed the Federal Trade Commission’s decision that Impax Laboratories entered an anticompetitive “reverse payment” settlement with Endo Pharmaceuticals. This case was the FTC’s first fully litigated reverse payment case since the Supreme Court’s 2013 decision in FTC v. Actavis holding that reverse payment settlements can violate the antitrust laws.

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