US states sue 26 drugmakers on generic drug price fixing

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US states sue 26 drugmakers on generic drug price fixing

On Wednesday, Attorney Generals of a majority of US states had sued 26 generic drugmakers over accusations of racketeering and conspiring to heighten up the prices of generic drugs and to reduce market competitions. Besides, the lawsuit filed by the Attorney Generals of 46 US states, the District of Columbia alongside four other US territories had sued Novartis’ generic unit Sandoz, Teva Pharmaceutical’s Actavis, Mylan, Pfizer Inc.

and others over allegations of scheming a plot to fixing up the prices of at least 80 generic drugs between 2009 and 2016. On top of that, the plaintiffs that included Attorney Generals of 46 US states had also stated that the drugmakers had prioritized their profits over public benefits and had turned down millions of consumers who had been in dire need of low-cost medications, court documents had revealed earlier on the day.

At least ten Chief Executives are defendants in generic drug pricing-rigging case

Besides, according to the 543-page complaint lodged in a Federal Court in the southern US state of Connecticut, the aforementioned plaintiffs including 46 US states Attorney Generals, had positioned at least ten Chief Executives alongside many sales and marketing directors as defendants in the case, while a Novartis spokesman, Eric Althoff was quoted saying followed by the reveal of the lawsuit that the allegations of misconducts had largely coincided to its $195 million settlement with the US Department of Justice in March and “could not support the vast, systemic conspiracy the states allege.

” The settlement of which Althoff was speaking, had resolved Novartis’ involvement in generic drug price fixing between 2013 and 2015. Apart from that, a spokeswoman for the US drugmaker Pfizer Inc., Sally Beatty said that the company did not believe it was involved in a price fixing, while a Mylan spokeswoman, Lauren Kashtan was quoted saying that her company could not find any material evidence that could accuse her company of alleged market rigging on generic drugs’ prices.