By Christopher Rowland Christopher Rowland Business reporter focused on the health-care economy's effects on patient health, costs, and privacy Email Bio Follow May 10 at 7:22 PM Executives of competing generic pharmaceutical companies deleted text messages and worked together to coordinate responses to authorities to obstruct an investigation into an alleged price-fixing cartel, state attorneys general alleged Friday in a civil complaint.
“That the biggest generic drug manufacturer in the world is one of the leaders of this marketwide collusion is beyond disappointing, and in some ways dispiriting,’’ Connecticut Attorney General William Tong told The Washington Post on Friday. Generic drugs make up about 90 percent of all prescriptions filled in the United States, while accounting for only about 25 percent of prescription costs. But consumer groups, state officials and members of Congress have repeatedly expressed outrage in recent years as generic drugs inexplicably spiked in price.
“Teva had understandings with its highest quality competitors to lead and follow each other’s price increases, and did so with great frequency and success,’’ the complaint said, “resulting in many billions of dollars of harm to the national economy over a period of several years.’’
Sounds very Trumpian
Surly the NSA has these texts.
If the left-wing education system stopped validating unvalidated mental health drugs for teenagers and removing any incentive for health professionals to be competitive then drug cartels might not be such an unchallenged industry.
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