Economy

Minnesota Attorney General to Sue 12 Pharmaceutical Companies

Minnesota Attorney General to Sue 12 Pharmaceutical Companies”

A large group of USA state attorneys general on Tuesday sought to expand a lawsuit alleging price fixing of generic drugs to 18 companies and 15 medicines on Tuesday, including Novartis AG's generic unit Sandoz and India-based Sun Pharmaceutical Industries Ltd.

The suit, which was filed in December and is now supported by prosecutors from 45 United States statesNew York, Oct 31, 2017 - Prosecutors announced Tuesday they added 12 more companies and two executives as targets in a wide-ranging antitrust investigation that charges generic drug manufacturers fixed drug prices.

"Generic drugs are a multibillion-dollar industry", Jepsen said, "but it's an industry based on products that people need and rely upon every single day".

"We allege in this [new] complaint that the defendant companies' collusion was so pervasive that it essentially eliminated competition from the market for these 15 drugs in its entirety", Jepsen said.

The states are now seeking to file a new complaint that would add Sandoz, Sun, Endo International PLC's unit Par Pharmaceutical, Dr. Reddy's Laboratories, Apotex Corp, Glenmark Generics Ltd, Lannett Company Inc, Alkem Laboratories Ltd's unit Ascend Laboratories and Cadila Healthcare Ltd's unit Zydus Pharmaceuticals Inc.

The expanded complaint also names two individual defendants: Rajiv Malik, president and executive director of Mylan N.V., which is the parent company of Mylan Pharmaceuticals, Inc.; and Satish Mehta, the chief executive officer and managing director of Emcure Pharmaceuticals, Ltd., which is the parent company of Heritage Pharmaceuticals, Inc.

"Generic drugs account for 88% of all prescriptions in the USA, and in taking these next steps, we hope to hold these companies and individuals accountable for alleged anti-competitive conduct that has harmed our healthcare system and consumers", said Laxalt.

Zoledronic acid, used to treat hypercalcemia. Portions of the expanded complaint are redacted in order to avoid compromising ongoing investigations.

The states allege that the defendants routinely coordinated their schemes through direct interaction with their competitors at industry trade shows, customer conferences and other events, as well as through direct email, phone and text message communications. He said the collusion between companies increased some generic drug prices for consumers by as much as 1,000 percent. The states allege that the conduct caused significant, harmful and continuing effects in the country's healthcare system.



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