Teva charged with price fixing generic drugs

[Judi Lynn]

Source: UPI

AUG. 26, 2020 / 4:08 AM
By Darryl Coote

Aug. 26 (UPI) -- The Justice Department has charged Teva Pharmaceuticals with conspiring with its competitors to fix the prices of generic medications.

In a statement Tuesday, the Justice Department said Teva has been charged with three counts of antitrust violations, becoming the seventh generic drug manufacturer to be charged in its ongoing price-fixing investigation.

"Today's charges, the latest in a series of law enforcement actions taken against large drug companies, confirm that this kind of criminal behavior in the generic pharmaceutical industry will not be tolerated," said James Dawson, acting assistant director in charge of the FBI's Washington Field Office. "Price fixing and bid rigging is a crime, and the American people -- who rely on these drugs to treat serious ailments -- are the ones who pay the price when companies like Teva conspire to raise their costs."

The Justice Department said Teva conspired to raise prices with Glenmark Pharmaceuticals Inc., Apotex Corp., Sandoz Inc., Taro Pharmaceuticals U.S.A and other drug companies, some of which have admitted to their involvement.

Read more: https://www.upi.com/Top_News/US/2020/08/26/Teva-charged-with-price-fixing-generic-drugs/4561598425299/?ur3=1

[mr_lebowski]

1. Wow ... you mean something decent is actually happening under the Trump/Barr regime?

Oh, who am I kidding?

100 internets says this turns out to be a shakedown/protection racket where the beneficiary is actually NOT the American People, but rather ... do I even have to say it?

[ToxMarz]

8. Probably one of their Trump friendly competitors had them taken out

so they could move into their territory. Most definitely not done to aid consumers anytime putting money in someones pocket is at stake.

[Dustlawyer]

2. But they still get to keep their immunity from civil suits over the drugs they manufacture.

[RobinA]

7. I Keep Waiting

for this issue to blow up. Still waiting after all these years.

[Sherman A1]

3. Hope that they get to pay back every dime

With interest and penalties, but I doubt much will happen.

[ck4829]

4. K&R

[rdking647]

5. teva had gross income of 1805

that would be a good number to start their fine at.

[Maxheader]

6. Don't trust any of the pharma nazis...

Sure, need the meds but be aware of unsafe drug bulletins..

Wouldn't be surprised if a competitor rattled them out....

[ArizonaLib]

9. This comes the day after Trump was supposed to reduce prices

I bet the charges were issued after they would not agree to reduce prices - they were probably under threat this whole time. Now in court, or at an appellate level they can claim that the government was not allowing them to act in good faith to the public because they were forced to collectively act in defense against Trump's threats or interference.

Anyone else see a correlation in Trump's promised announcement and the charges made public, both within 24 hours?

[Snoopy 7]

10. why

The real question should be why only Teva(?) the others conspired also...