Generic drugmakers Teva and Glenmark recently became the sixth and seventh drugmakers to resolve criminal charges as a result of the DOJ’s yearslong investigation into generic drug price fixing. The settlement agreement requires both companies to pay hefty fines as well as divest their drug lines for pravastatin, a widely used statin that lowers cholesterol.
The charges, filed in Philadelphia federal court, allege that Teva conspired with four other generic drug companies to fix prices, rig bids and allocate customers. Teva - which the Justice Department and New York's state government also sued this month for unrelated allegations - said it rejected the allegations.
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More than three dozen states and Puerto Rico are part of the lawsuit, against Teva and more than a dozen generic manufacturers, alleging a scheme that saw some drug prices increase more than 1,000 percent.
The high prices Americans pay for generic drugs may have been cooked up by pharmaceutical salespeople on golf courses, at a New Jersey steakhouse or over martinis at a “Girls Nights Out” in Minnesota.
Attorneys general in 20 states have filed an anti-trust lawsuit against Heritage, Mylan, Teva and three other generic drug companies, alleging price-fixing and market-splitting tactics between the competition.