Arkansas AG extends fight against generic drug price hike

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LITTLE ROCK, Ark. (KFTA) — Arkansas Attorney General Leslie Rutledge is joining a multi-state amended complaint against Teva Pharmaceuticals and 19 of the nation’s largest generic drug manufacturers, a news release states.

The release state the lawsuit alleges a broad conspiracy to artificially inflate and control prices, reduce competition and unreasonably restrain trade for more than 100 different generic drugs.

The lawsuit includes 53 states and territories, according to the release.

The complaint alleges that Teva, Sandoz, Mylan, Pfizer and 16 other generic drug manufacturers engaged in a campaign to conspire with each other to fix prices, allocate markets and rig bids for more than 100 different generic drugs, according to the release.

The drugs treat a range of diseases and conditions from basic infections to diabetes, epilepsy, multiple sclerosis, HIV, ADHD, cancer and more. In some instances, the coordinated price increases were over 1,000 percent.

“Arkansans rely on these life-saving drugs to manage a range of medical issues from diabetes to cancer,” Rutledge stated. “The evidence against these companies proves that they coordinated efforts to manipulate the marketplace, and it is people’s health that suffers. This lawsuit holds all 20 companies accountable for its exploitative practices.”

Fifteen individual senior executive defendants are also listed in the lawsuit.

The drugs account for billions of dollars of sales in the United States, according to the release. The alleged schemes increased prices affecting the health insurance market and taxpayer-funded healthcare programs like Medicare and Medicaid.



Copyright 2020 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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