Teva Is at Center of a Drug Price-Fixing Case Outlined by States | WHAT REALLY HAPPENED


Teva Is at Center of a Drug Price-Fixing Case Outlined by States

Teva Pharmaceutical Industries Ltd. helped mastermind a sweeping conspiracy among generic drugmakers to raise prices for medicines, according to a new antitrust lawsuit filed by states that stems from a five-year investigation of the companies.

More than a dozen current and former executives at top generic-drug makers, including Mylan NV and a unit of Pfizer Inc., were sued on Friday by more than 40 states led by Connecticut Attorney General William Tong.

“We have hard evidence that shows the generic drug industry perpetrated a multi-billion dollar fraud on the American people,” Tong said in a statement Friday. “We all wonder why our health care, and specifically the prices for generic prescription drugs, are so expensive in this country — this is a big reason why.”

The lawsuit accuses the drugmakers of inflating the prices of more than 100 different drugs, significantly broadening a 2016 complaint. In addition to the states, the Justice Department’s antitrust division is conducting a criminal investigation. The unit’s chief said last week that charges would be filed, without specifying timing.

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