Wednesday, March 22, 2023
North-JerseyNews.com
  • Home
  • Washington
  • Trenton
  • County
  • Court
  • Roundup
  • Opinion
  • Search
  • Donation
No Result
View All Result
  • Home
  • Washington
  • Trenton
  • County
  • Court
  • Roundup
  • Opinion
  • Search
  • Donation
No Result
View All Result
North-JerseyNews.com
No Result
View All Result
Home County

Lawsuit Filed Against Generic Drug Companies for Pricing Conspiracy

Nathan Resso by Nathan Resso
June 11, 2020
in County, Court
0 0
0
crop man doctor with stethoscope giving ointment

Photo by Karolina Grabowska on Pexels.com

0
SHARES
11
VIEWS
Share on FacebookShare on Twitter

Attorney General Gurbir S. Grewal announced New Jersey, alongside a collation of other states, filed an antitrust lawsuit against 26 drug companies, arguing they conspired to artificially inflate the prices of 80 topical generic drugs.

Grewal said the pricing conspiracy for the drugs, which included creams, gels, lotions, ointments, shampoos, and solutions, was a violation of federal and state antitrust and consumer protection laws.

“The price of many prescription drugs is too high. And our investigations have shown that the high prices for many generic drugs stem from illegal collusion among drug companies and executives,” stated the attorney general.

Conduct Stemming Back to 2009

The complaint alleged that starting in 2009 through early 2016, collusion was “rampant” among manufacturers of generic topical drugs. The suit claimed sales and pricing executives among the companies were well acquainted and used these relationships to restrict competition.

The suit argued Tara Pharmaceuticals USA Inc, Perrigo New York Inc., Sandoz Inc. (formerly Fougera), and Actavis acted as ring leaders of the conspiracy via long-standing agreements to follow each other’s prices increases and to not compete for each other’s customers.

The remaining 22 defendant companies “understood the rules of the road,” according to the suit. New Jersey, 46 other states, the District of Columbia, Puerto Rico, and several U.S. territories were party to the federal lawsuit

Addressing a Broader Pattern of Abuse

The abuse was part of a larger pattern of anticompetitive conduct in the industry for years, according to the suit. It argued representatives of the manufactures would get together at “industry dinners” and other lavish events to reinforce the agreements.

It noted the executives were in near-contact contact during the peak period, with 13 high-ranking executives meeting in January 2014 at a Bridgewater, NJ, steakhouse, including representatives of Actavis, Aurobindo, Lannett, and Perrigo.

The lawsuit represented the third time in the last four years the state participated in a multi-state lawsuit to address the generic drug industry’s anticompetitive conduct.

In January 2017, New Jersey joined in a lawsuit alleging 18 corporate defendants and two individual defendants conspired to fix pricing among 15 generic drugs. The suit remains pending.

Additionally, in May 2019, New Jersey participated in a lawsuit alleging 20 generic drug companies artificially inflated the prices on more than 100 generic drugs. The drugs included oral antibiotics, blood thinners, cancer drugs, contraceptives, statins, blood pressure medications, and more.

Share this:

  • Twitter
  • Facebook
  • More
  • LinkedIn

Like this:

Like Loading...

Related

Tags: ActavisAntitrustAttorney General Gurbir S. GrewalAttorney General’s OfficeAurobindoconsumer protection lawscreamsgelsgeneric drugsLannettlotionsNew Jersey Attorney GeneralointmentsPerrigo New York Inc.Pharmaceuticalsprescription drugsPrice FixingPrice GougingSandoz Inc.shampoosTara Pharmaceuticals USA Inc
Previous Post

Pennacchio, Oroho Aim to Limit Governor Power with Constitutional Amendment

Next Post

Gov. Phil Murphy Warns Officials Against Defying Executive Orders

Next Post
Murphy angry

Gov. Phil Murphy Warns Officials Against Defying Executive Orders

Leave a Reply Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

support-Local

Recent Post

North-JerseyNews.com

President Biden’s Numbers Dip in New Monmouth Poll

by James Hickey
March 21, 2023
2

North-JerseyNews.com

Mayor Sayegh: No Federal Intervention of Paterson Police Needed

by James Hickey
March 21, 2023
1

North-JerseyNews.com

North-JerseyNews.com Roundup for March 21, 2023: DeCamp to End Manhattan Commuter Service

by North-JerseyNews.com
March 21, 2023
0

Popular

North-JerseyNews.com

President Biden’s Numbers Dip in New Monmouth Poll

by James Hickey
2023/03/21
2

North-JerseyNews.com

Mayor Sayegh: No Federal Intervention of Paterson Police Needed

by James Hickey
2023/03/21
1

North-JerseyNews.com

North-JerseyNews.com Roundup for March 21, 2023: DeCamp to End Manhattan Commuter Service

by North-JerseyNews.com
2023/03/21
0

Subscribe now

Join 100,000+ other subscribers

Select list(s) to subscribe to

ss-tp
2107.JG.FightForJersey

North-JerseyNews.com

When it comes to breaking news North Jersey, North Jersey local news or live news North Jersey, We all look for a reliable source that can give us authentic North Jersey news or local Jersey news.

© Copyright 2021 North-JerseyNews.com

Design and Developed By MOZWEBMEDIA

No Result
View All Result
  • Home
  • Washington
  • Trenton
  • County
  • Court
  • Roundup
  • Opinion
  • Search
  • Donation

© Copyright 2021 North-JerseyNews.com
Design and Developed By MOZWEBMEDIA

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Finance-Currency-Financial-World-Dollar-Funds-634901

Add Your Heading Text Here

Pop-up Design 1 (1)

%d bloggers like this: