CT sues Big Pharma for Price Fixing

44 States are joining in, This can be HUGE

via bizjournals:

Mylan is one of 20 pharmaceutical companies named in a lawsuit by Connecticut Attorney General William Tong, alleging that the manufacturers have conspired to manipulate prices, restrain trade and reduce competition.

According to a press release published by Tong’s office on Sunday, Tong is leading a 44-state coalition against the 20 companies, which also includes Teva, Sandoz, and Pfizer. In addition to naming the 20 companies, 15 individual senior executive defendants were singled out, among them Mylan’s Vice President of Sales, James Nesta.

The complaint said the companies conspired to fix prices and rig bids for more than 100 different generic drugs. The drugs span all types — from tablets to gels — and treats a range of diseases including cancer, HIV, and epilepsy.

“We have hard evidence that shows the generic drug industry perpetrated a multi-billion dollar fraud on the American people,” Tong said in a statement. “We have emails, text messages, telephone records, and former company insiders that we believe will prove a multi-year conspiracy to fix prices and divide market share for huge numbers of generic drugs.”

 

h/t general mishka

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