STATEMENT ON TEVA RESTRICTING 340B DISCOUNTS THROUGH COMMUNITY-BASED PHARMACIES
WASHINGTON, D.C.— The drug company Teva Pharmaceuticals has announced it will start restricting access to 340B discounts to safety-net hospitals on drugs dispensed at community pharmacy partners. When the new policy takes effect July 5, Teva will become the 23rd drug company to impose such unilateral restrictions on 340B pricing.
The following statement is attributed to 340B Health President and CEO Maureen Testoni:
“As the largest generic drugmaker in the world, Teva brought in nearly $15 billion in revenues last year even after accounting for 340B discounts that it provided for the benefit of the health care safety net. Now Teva is aiming to drive its profits higher by blocking access to three-dozen of its brand-name drugs for patients with chronic conditions such as asthma/COPD, migraine, and chronic myeloid leukemia.”
“The price of Teva’s decision will be measured in the harm it causes the patients in need who rely on access to these lifesaving medications and all those who rely on safety-net care. Two federal appeals courts are considering lawsuits involving such drugmaker restrictions, and we urge the Biden administration to continue its strong defense of its interpretation of the 340B law.”
The drugmakers with 340B pricing restrictions are AbbVie, Amgen, AstraZeneca, Bausch Health, Bayer, Biogen, Boehringer Ingelheim, Bristol Myers Squibb, Eli Lilly, EMD Serono, Exelixis, Gilead, GlaxoSmithKline, Johnson & Johnson, Merck, Novartis, Novo Nordisk, Organon, Pfizer, Sanofi, Teva, UCB, and United Therapeutics.
Contact: Jon Tilton at firstname.lastname@example.org or 202-536-2285