echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Medical News > Latest Medical News > Twenty-six generic pharmaceutical companies, including Sanders, Teva and Mylan, have been charged with price-fixing.

    Twenty-six generic pharmaceutical companies, including Sanders, Teva and Mylan, have been charged with price-fixing.

    • Last Update: 2020-08-01
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com
    In recent years, U.S. state courts have focused on generic drug antitrust, and generics companies conspired to artificially raise and manipulate the prices of generic drugs sold across the United States.
    a number of generic drug makers have been sued before, so far the number of defendants and the number of people involved in the case continues to grow.
    in a 606-page state lawsuit filed June 10 in U.S. District Court for Connecticut, 51 states and territories require as many as 26 generic drug companies and 10 drug company executives to participate in revising the price sized at least 80 dermatopathic generics.
    a long-term agreement between manufacturers to ensure a "fair share" of each competitor in the market and to prevent "price erosion" from competition.
    the names of some of the most well-known drug companies in the list of defendants - Novartis, Teva, Mylan and Pfizer- others include Actavis, Amneal, Aurobindo, Bausch, Fuugera, Glenmark, G.W., Lannett, Lupin, Mallinckckt, Perrigo, Sun Pharmaceuticals, Taropharmaceuticals, Andert, and others.
    Connecticut Attorney General William Tong said in a statement: 'State courts have alleged that executives at these drug companies used telephone conversations, text messages, emails, meetings and dinners to modify, determine generic prices, reduce competition, and unreasonably restrict the trade in generic drugs sold across the United States as if it were a standard business model.
    the lawsuit lists drugs subject to price-fixing and market distribution agreements, including solutions used to treat various skin conditions, pain and allergies, such as propylene ketamine cream, propioxinate ketamine ointment, cephalosporine tablets, dexamethasone ointment, metamine tablets, momepinesine ointment ointment, and so on.
    sales of these 80 local generic drugs in the United States amount to billions of dollars.
    the latest lawsuit seeks damages and civil penalties from defendant companies and individuals, while the court takes action to restore competition in the generic drug market.
    The Connecticut attorney general's office began investigating generic price changes in 2014.
    filed its first lawsuit in 2016 in u.S. District Court for the Eastern District of Pennsylvania, involving 18 companies and two principals, and the plaintiffs revised the lawsuit in 2017.
    the same court in 2019 filed a second lawsuit against Teva and 19 other generic drug dealers, listing 16 pharmaceutical company employees as senior executive defendants.
    both cases are currently pending and are still pending. "The latest proceedings are based on the evidence of co-witnesses, and we have a huge amount of evidence of notes and notes," mr
    Tong said.
    include comprehensive, direct evidence of illegal agreements that show Taro, Perrigo and Fougera (now Sanders) raised the prices of dozens of popular products and sold nearly two-thirds of u.S. foreign medicines between 2007 and 2014 by three generic drug makers.
    they take a variety of measures to evade responsibility, such as using innuenducity and mutual warnings to avoid e-mail and checks.
    But as the investigation progressed, we found a database of more than 20 million related documents and a database of millions of detailed phone and contact records between more than 600 generic selling and pricing personnel.
    evidence that would undeniably indicate that this would be the largest 'domestic cartel' in U.S. history.
    cartels are organized by a series of independent enterprises that produce similar products with the aim of raising the price of a particular type of product and controlling its output.
    monopoly interest groups, enterprise sororities, inter-industry alliances, also known as cartels, is one of the forms of monopoly organization.
    in addition to state investigations, the U.S. Department of Justice has been conducting generic price changes in recent years and has reached settlements with several drug companies and their executives.
    in May, Canadian pharmaceutical company Apotex admitted to revising the price of its drug and agreed to settle a $24 million criminal fine with the U.S. Department of Justice.
    earlier, Sanders reached a $195 million settlement with the U.S. Department of Justice.
    two former executives at Heritage Pharmaceuticals and a former Novartis executive in the Justice Department's investigation have pleaded guilty to modifying the price of generic drugs.
    however, in a new statement on June 10th, Sanders said: "I do not agree with the many demands made by the states of the United States.
    the settlement we reached with the U.S. Department of Justice in March was centered on individual misconduct, but did not support allegations of massive, systematic collusion and attempts to modify drug prices.
    "
    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.