States' suit accuses generic drugmakers of fixing prices, costing Americans billions

Attorneys general from more than 40 states are alleging the nation's largest generic drug manufacturers conspired to artificially inflate and manipulate prices for more than 100 different generic drugs, including treatments for diabetes, cancer, arthritis and other medical conditions.

Tong said the investigation had uncovered a primary reason why the cost of healthcare — and specifically generic prescription drugs — has been so high in this country. A spokesman for one of the companies named in the suit, Teva Pharmaceuticals USA Inc., a subsidiary of Israeli-based Teva Pharmaceuticals Industries, said Teva hasn't engaged in any conduct that would lead to civil or criminal liability.

But by 2012, the suit says, Teva and the other companies decided to"take this understanding to the next level." It alleges that"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 suit contends that this resulted in"many billions of dollars of harm to the national economy over a period of several years."During a 19-month period beginning in July 2013, the suit says, Teva significantly raised prices on approximately 112 different generic drugs and on at least 86 of those increases it colluded with a group it referred to as"high quality" competitors.

60Minutes tv program last night (Sun 12 May) featured excellent segment on this very topic. Interviewed Connecticut AG WilliamTong & 2 attorneys who (along w their staff) did the delicate, labor-intensive investigative/detective fact-finding work that exposed this HUGE FRAUD.

Bet KS is not one of those states. They are all for large companies ripping off people, especially when they donate to the GOP.

RFHKerry 😡

Fuck these companies -we must tear them apart. We the tax payers fund these companies drug research. We need Medicare for all and citizens need to stop protecting them and the for profit hospitals.

Pharmaceuticals and doctors were ruining my life. Check out this article bigeasy_mag allowed me to share about how I was able to change things myself. How Cooking Cannabis Saved Me | Big Easy Magazine

Horrible... this is just plain wrong!

'...but luckily for them we live in a country with no accountability, so none of them will be punished.'

Fucking duh. How else do you think they can give 40-%80% rebates on all generic drugs to pharmacists (sometimes calling them “training allowances” so patients and their insurance companies can’t demand reimbursement)?

Unfettered business will do all they can get away with.

The root of evil Is greeds desire for money Follow the money Pharma should be free We the people demand it Make money else where

It's bad enough that my life saving meds may actually be killing me from poor quality control in some shady facility. Now I am being overcharged for the privilege?!? Great.

This is why capitalism doesn't work. It enriches and rewards the corrupt.

Crystal clear what’s going on at Lannett.

This is kind of obvious from the stupidly high prices. Does anyone think the US pharma industry is anything other than 100% corrupt?

They can not just buy the cheapest. That one is placebo intentionally.

LANNETT makers of generic Terbutaline raised the price from $35 to $215 for a 1 month supply (30 pills) in the last 12 months. Excuse? Competition no longer manufacture the medication. So they can get away with it. My dog needs this medication to BREATH. ewarren

I used to work for a wholesaler managing the relationship between them and generic pharma manufacturers and they subpoenaed our emails and texts. This was about two years ago. Tsk tsk.

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