The FTC is suing 2 drug companies

The Federal Trade Commission is going after two drug companies for obstructing generic drug competition.

The FTC is suing Endo International and Allergan, according to a complaint filed in a California Federal court on Monday. Endo was down 5% on the news Monday afternoon, while Allergan was slightly up. Teva, which acquired Allergan’s generics business, was down 3%.

This isn’t the first time the FTC has gone after Endo and Allergan. In March 2016, the agency sued both companies for blocking access to cheaper versions of Opana ER and Lidoderm, drugs used to treat pain.

This is developing.

NOW WATCH: Here’s how to use one of the many apps to buy and trade bitcoin

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.