Generic drug giants settle federal price-fixing charges

Key Facts

• “The resolutions include extraordinary remedial measures that require the breakup of assets and restore competition to the industry,” Teva acknowledged fixing prices on pravastatin as well as clotrimazole, used for skin infections, and tobramycin, used to treat cystic fibrosis.
• Teva, Glenmark and Apotex, which agreed to a criminal fine of $24 million, were charged with conspiring to fix prices of pravastatin.
• Other charges against Teva included conspiring with Taro (which previously paid a $205.6 million fine) to fix prices of drugs including treatments for seizures and bipolar disorder, arthritis, eczema and blood clots; and conspiring with Sandoz (which paid $195 million) to fix prices on treatments for arthritis, high blood pressure, brain cancer and cystic fibrosis.
• While Teva was the last and largest of the generic drugmakers to face charges, myriad companies face civil claims in a variety of class-action lawsuits and cases brought by nearly every state attorney general in the country.

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