Stories
Slash Boxes
Comments

SoylentNews is people

Generic Drugmakers Conspired to Inflate Prices Up to 1,000%, State Prosecutors Say

posted by Fnord666 on Monday May 13 2019, @07:41AM   Printer-friendly
from the naughty-executives dept.

MrPlow writes:

Submitted via IRC for Runaway1956_

Leading drug companies including Teva, Pfizer, Novartis and Mylan conspired to inflate the prices of generic drugs by as much as 1,000 percent, according to a far-reaching lawsuit filed on Friday by 44 states.

The industrywide scheme affected the prices of more than 100 generic drugs, according to the complaint, including lamivudine-zidovudine, which treats H.I.V.; budesonide, an asthma medication; fenofibrate, which treats high cholesterol; amphetamine-dextroamphetamine for A.D.H.D.; oral antibiotics; blood thinners; cancer drugs; contraceptives; and antidepressants.

"We all know that prescription drugs can be expensive," Gurbir S. Grewal, the New Jersey attorney general, said in a statement. "Now we know that high drug prices have been driven in part by an illegal conspiracy among generic drug companies to inflate their prices."

In court documents, the state prosecutors lay out a brazen price-fixing scheme involving more than a dozen generic drug companies and just as many executives responsible for sales, marketing and pricing. The complaint alleges that the conspirators knew their efforts to thwart competition were illegal and that they therefore avoided written records by coordinating instead at industry meals, parties, golf outings and other networking events.

Source: https://theinformationsuperhighway.org/generic-drugmakers-conspired-to-inflate-prices-up-to-1000-state-prosecutors-say/

Original Submission

 
This discussion has been archived. No new comments can be posted.
Generic Drugmakers Conspired to Inflate Prices Up to 1,000%, State Prosecutors Say | Log In/Create an Account | Top | 107 comments | Search Discussion
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.

  • (Score: 2) by Runaway1956 on Monday May 13 2019, @03:02PM (4 children)

    by Runaway1956 (2926) Subscriber Badge on Monday May 13 2019, @03:02PM (#843027) Journal

    So, anarchy.

    Starting Score:    1  point
    Karma-Bonus Modifier   +1  
    Total Score:   2  

  • (Score: 0) by Anonymous Coward on Monday May 13 2019, @03:13PM (2 children)

    by Anonymous Coward on Monday May 13 2019, @03:13PM (#843029)

    Nope. If there was actually "deregulation" that is what you would get though. Deregulation is a misnomer for what you are describing. That is my entire point with your post.

    • (Score: 1, Flamebait) by Runaway1956 on Monday May 13 2019, @03:17PM (1 child)

      by Runaway1956 (2926) Subscriber Badge on Monday May 13 2019, @03:17PM (#843032) Journal

      Sorry, I didn't coin the word, or the phrases associated with it. The "deregulation of the trucking industry" meant a lot of changes, but ultimately, it resulted in just about as many regulations, enforced by the feds instead of the states, and favoring big corporations like JB Hunt, rather than the independents.

      • (Score: -1, Troll) by Anonymous Coward on Tuesday May 14 2019, @08:01AM

        by Anonymous Coward on Tuesday May 14 2019, @08:01AM (#843309)

        Runaway: Stolen Valor, never served in the Navy, they have no record of a "Runaway1956" ever serving. And I doubt he was ever an actual trucker. CDL number and CB handle, or you are a fake, you funching Republican Hillbilly Redneck piece of shite!

  • (Score: 0) by Anonymous Coward on Monday May 13 2019, @08:00PM

    by Anonymous Coward on Monday May 13 2019, @08:00PM (#843131)

    oh noes! non self rule! any thing but freedom! fucking slave.