Monday, May 13, 2019

Over 40 states are suing generic drug companies for alleged conspiracy to hike prices

https://thinkprogress.org/states-are-suing-generic-drug-manufacturers-for-alleged-conspiracy-to-inflate-prices-9ecb18dbffc8/?fbclid=IwAR3gtKx-bcZmfthQRA9ER1jsZG6KsMJNPO7MKyA1xxsLMHGdvoap47oEgKI
"According to the lawsuit filed in Connecticut on Friday by 43 states and Puerto Rico, evidence shows these drug manufacturers embarked upon “one of the most egregious and damaging price-fixing conspiracies in the history of the United States.” Investigators allege that the companies worked together to artificially inflate and manipulate prices for over 100 different types of generic drugs — including diabetes, cancer, and arthritis treatments. The lawsuit implicates 20 firms and names 15 individual senior executives that oversee sales, marketing, and pricing. According to investigators, the drugs named in the suit account for billions of dollars of sales in the United States — a country which already has some of the highest drug prices in the world, especially compared to those where the government regulates or negotiates prices of new drugs."