WashingtonIn the US, numerous pharmaceutical companies are accused of illegal price fixing. Forty-eight states filed suit against 20 companies on Friday, prosecutors announced on Saturday. The accused include the world's largest generic drug manufacturer Teva, the Israeli parent company of the German Ratiopharm. The companies are said to have screwed up their prices by more than 1,000 percent, and have also suppressed competition in counterfeit medicines.
"Teva and its co-conspirators have made the most outrageous and damaging price-fixing in US history," the indictment says. These included tablets, capsules, creams and ointments for the treatment of diabetes, high cholesterol, high blood pressure, cancer, epilepsy and much more. Copycat drugs are a lot cheaper than the original preparations and thus allow the victims high savings. "Generics were among the few bargains in the healthcare system in the US," it said in the lawsuit. That changed sometime.
Teva and Sandoz, another named company, initially had no comments.
(t) Teva (t) USA (t) Prosecution (t) Prosecution (t) Antitrust Policy (t) Antitrust by Industry (t) Ranking (t) Unfair Competition (t) Jurisdiction (t ) Sandoz (t) Ratiopharm (t) pharmaceutical industry