US states sue 20 drug firms including Teva Pharma over pricing cartel
A representative of Teva Pharma USA, a unit of Israeli firm Teva Pharmaceutical Industries, said it will fight the lawsuit.
WASHINGTON: US states filed a lawsuit accusing Teva Pharmaceuticals USA Inc of orchestrating a sweeping scheme with 19 other drug companies to inflate drug prices, sometimes by more than 1,000 per cent and stifle competition for generic drugs, state prosecutors said on Saturday.
Soaring prices from both branded and generic manufacturers have sparked outrage and investigations in the US. The criticism has come from across the political spectrum, from President Trump, a Republican, to progressive Democrats.
The firms engaged in conspiracies to divide up the market for drugs to avoid competing and, in some cases, conspired to prevent prices from dropping or to raise them, according to the complaint by 44 states. A representative of Teva USA, a unit of Israeli firm Teva Pharmaceutical Industries, said it will fight the lawsuit.
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