The European Commission has fined Israeli generic drugmaker Teva more than 460 million euros ($500 million) for improperly seeking to protect the patent for its multiple sclerosis drug and for disparaging a rival company’s development of a competing medicine.

Teva Fined Around $500 Million by EU Over MS Drug Competition Concerns

Teva Pharmaceuticals is being fined $503 million (€463 million) by the European Commission for delaying competition posed by rival generic drugmakers, the company's second major financial penalty this month.