Nebraska Attorney General Doug Peterson joined 43 attorneys general led by Connecticut Attorney General William Tong in announcing a lawsuit against Teva Pharmaceuticals and 19 of the nation’s largest generic drug manufacturers.
The lawsuit alleges a conspiracy to artificially inflate and manipulate prices, reduce competition and restrain trade for more than 100 different generic drugs. The drugs in question account for billions of dollars of sales in the United States, and the alleged schemes increased prices affecting the health insurance market, taxpayer-funded healthcare programs like Medicare and Medicaid, and citizens who must pay artificially-inflated prices for their prescription drugs. In some instances, the systematic price increases were over 1,000 percent.
The lawsuit, filed in the U.S. District Court of Connecticut, also names 15 individuals at the heart of the conspiracy who were responsible for sales, marketing, pricing, and operations. The complaint is the second to be filed in an ongoing, expanding investigation and seeks damages, civil penalties and actions by the court to restore competition to the generic drug market.
You can read the full complaint here.
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