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Generic Drug Price Fixing: 44 States Sue Generics Over Multi-Year Conspiracy to Hike Prices by Over 1000%

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Price Fixing

TrialSite News reports that state attorneys general of more than 40 states filed a lawsuit accusing the nation’s largest generic drug makers of conspiring to inflate drug prices by over 1,000% in some cases. Filed in the United District Court for the District of Connecticut, Connecticut Attorney General William Tong, whose state is leading a pharma probe, noted, “We have hard evidence that shows the generic drug industry perpetuated a multi-billion dollar fraud on the American people.”

According to the complaint, “Teva and co-conspirators embarked on one of the most egregious and damaging price-fixing conspiracies in the history of the United States.” If the attorney generals’ positioning is true (they claim to have all the evidence) the generic drug industry could be in for a big shake up. Tong, for instance, is quoted, “we have emails, text messages, telephone records, and former company insiders that we believe will prove a multi-year conspiracy to fix prices and divide market share for huge numbers of generic drugs.”

The lawsuit names Teva, Pfizer, Novartis, Mylan, and others (20 in total), as well as more than a dozen executives who the complaint accuses of deleting evidence. TrialSite News obtained the complaint and names the defendants:

Companies named as Defendants

Individuals named as Defendants

 

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