Thanks to Brian.
44 States Sue Pharma Giants Over ‘Multi-Year Conspiracy’ to Hike Drug Prices by 1,000%
Common Dreams, Mind Unleashed, May 12, 2019
A far-reaching lawsuit filed Friday by the attorneys general of more than 40 states accused some of the nation’s largest generic drug manufacturers of conspiring to inflate prices, in some cases by over 1,000 percent.
“We have hard evidence that shows the generic drug industry perpetrated a multi-billion dollar fraud on the American people,” Connecticut Attorney General William Tong, whose state led the probe into the companies’ practices, said in a statement.
“We have emails, text messages, telephone records, and former company insiders that we believe will prove a multi-year conspiracy to fix prices and divide market share for huge numbers of generic drugs,” said Tong.
The suit names 20 major drug manufacturers—including Pfizer, Teva, Novartis, and Mylan—as well as more than a dozen senior executives, who the complaint accuses of deleting evidence after the states began their investigation in 2014.
“The industrywide scheme affected the prices of more than 100 generic drugs,” the New York Times reported Saturday, “including lamivudine-zidovudine, which treats H.I.V.; budesonide, an asthma medication; fenofibrate, which treats high cholesterol; amphetamine-dextroamphetamine for ADHD.; oral antibiotics; blood thinners; cancer drugs; contraceptives; and antidepressants.”