40 US states sue Teva, other drugmakers on price-fixing

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40 US states sue Teva, other drugmakers on price-fixing

US States filed a lawsuit against Teva Pharmaceuticals alongside other drugmakers, accusing the pharmaceutical moguls of scheming to inflate drug prices, on some occasions more than 1,000 percent and of stalling competition for generic drugs, state prosecutors had revealed on Saturday, the 11th of May 2019.

Over the recent past, a surprising upsurge of US drugs’ price from both generic and branded manufacturers, had sparkled questions and launched multiple probes on US, while the US pharmaceutical industry had witnessed criticisms from wide-ranging spectrums including the Republican US President Donald Trump and a progressive democrat, Elizabeth Warren, who has been running for the US presidential election of 2020.

According to the complaint filed by 44 US states on Friday (May 10th) on the US District Court of Connecticut, as many as 20 drugmakers had been involved in conspiracies to divide up the pharmaceutical market among themselves in order to avert competitions, while holding the keys to drop or raise drug prices on US markets.

Never the less, adding that the Company would be battling against the lawsuit, a spokesman for Israel-based multinational drugmaker, Teva Pharmaceutical Industries Ltd., said, “The allegations in this new complaint, and in the litigation more generally, are just that – allegations.

Teva continues to review the issue internally and has not engaged in any conduct that would lead to civil or criminal liability,” while the complaint had been quoted saying that the price-fixing had been much-worse than an identical scenario witnessed back in 2012.