US Pharma Collusion

[LC]

Drugmakers allegedly inflated prices over 1,000% and 44 states are now suing

 

https://www.cnbc.com/2019/05/11/us-states-accuse-teva-and-other-drugmakers-of-colluding-to-inflate-prices-over-1000percent.html

 

The 500-page lawsuit accuses the generic drug industry, which mainly sells medicines that are off patent and should be less expensive, of a long history of discreet agreements to ensure that companies that are supposedly competitors each get a “fair share.”

 

The situation worsened in 2012, the complaint said.

 

“Apparently unsatisfied with the status quo of ‘fair share’ and the mere avoidance of price erosion, Teva and its co-conspirators embarked on one of the most egregious and damaging price-fixing conspiracies in the history of the United States,” the complaint said.

 

With Teva at the center of the conspiracy, the drug companies colluded to significantly raise prices on 86 medicines between July 2013 and January 2015, the complaint said.