People who suffer pain as a result of the shingles will have access to less-expensive generic drugs under an agreement reached with a pharmaceutical company.
Kentucky is one of 22 states that have reached an agreement with Teikoku Seiyaku and its subsidiary Teikoku Pharma USA because of anti-competitive tactics, Attorney General Andy Beshear announced Thursday.
The companies are accused of illegally participating in an agreement to protect a monopoly on Lidoderm, a lidocaine patch used to relieve pain associated with a common complication of shingles, Beshear said in a news release.
The website Goodrx.com says the average retail price of Lidoderm is about $500 for 30 patches, but generic forms are sold for much less.
Under the 20-year agreement, Teikoku is prohibited from paying or giving incentives to generic drugmakers to delay entering the drug market. Teikoku also may not research, develop, manufacture, market or sell any drug products for 20 years.
The company also will cooperate with an investigation “into similar conduct by other drug manufacturers,” according to a news release.
Teikoku Pharma USA is a subsidiary of Teikoku Seiyaku, one of the world’s biggest pharmaceutical patch makers.
Beshear also is part of a multi-state lawsuit alleging that 18 companies colluded to reduce competition and increase the price of 15 generic drugs.