While Teva Pharmaceuticals (NASDAQ:TEVA) has petitioned U.S. regulators to require external advisory committee review for approval of new multiple sclerosis (MS) drug candidates, it is clear that Biogen Idec's (NASDAQ:BIIB) BG-12 was the motivation behind this initiative. Teva's Copaxone currently has a 40% share of the MS market and Teva is pulling out all stops to protect its franchise.
But is it appropriate for a company to publicly sound safety warnings about a competitor's drug in the absence of supporting clinical data? Is it appropriate for Citizen Petitions to be used by companies to inhibit access to a competitor's product? Leveraging the influence of regulatory authorities to protect vested interests should not be tolerated and should be open to antitrust challenge.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.