TEVA VOICES SUPPORT OF U.S. REVERSE-PAYMENTS BILL

Israeli drugmaker Teva Pharmaceutical Industries' U.S. subsidiary has announced its support of proposed legislation that would prohibit brand manufacturers from paying generic companies to delay launching generic versions of their drugs, a practice called reverse payments.

Members of the U.S. Senate Judiciary Committee unanimously approved the legislation last week, and the bill will now be sent to the full Senate for consideration.

"Teva is supportive of the Senate's efforts to stop anticompetitive drug patent settlements. We also agree with [its] acknowledgement that severely restricting settlements would not be in the best interest of consumers," the company said.

Teva is one of the top 20 pharmaceutical companies in the world and the leading generic drugmaker, according to the firm.