U.S. states accuse Teva, other drugmakers, of price-fixing -lawsuit

[muriel_volestrangler]

Source: Reuters

WASHINGTON (Reuters) - U.S. states filed a lawsuit accusing Teva Pharmaceuticals USA Inc of orchestrating a sweeping scheme with 19 other drug companies to inflate drug prices - sometimes by more than 1,000% - and stifle competition for generic drugs, state prosecutors said on Saturday.

Soaring drug prices from both branded and generic manufacturers have sparked outrage and investigations in the United States. The criticism has come from across the political spectrum, from President Donald Trump, a Republican, to progressive Democrats including U.S. Senator Elizabeth Warren, who is running for president.

The 20 drug companies engaged in illegal conspiracies to divide up the market for drugs to avoid competing and, in some cases, conspired to either prevent prices from dropping or to raise them, according to the complaint by 44 U.S. states, filed on Friday in the U.S. District Court in Connecticut.
...
“Apparently unsatisfied with the status quo of ‘fair share’ and the mere avoidance of price erosion, Teva and its co-conspirators embarked on one of the most egregious and damaging price-fixing conspiracies in the history of the United States,” the complaint said.



Read more: https://www.reuters.com/article/us-usa-drugs-lawsuit/us-states-accuse-teva-other-drugmakers-of-price-fixing-lawsuit-idUSKCN1SH0DP

[BigmanPigman]

1. Drug companies' practices will be viewed like those

of tobacco companies' wrong doings from 40 years ago.

[Maxheader]

2. Hanging is too good for these ass hats..

Making meds too expensive for people to buy...

[Archae]

3. "60 Minutes" is doing a segment on this tomorrow.

[Marthe48]

4. Hope states win

I just picked up 2 prescriptions I last filled Sept. 2018. One doubled in price, the other tripled. One is supplied by Teva. I was going to email both companies and swear at them. Just ridiculous.

[DENVERPOPS]

7. Don't waste your time, sweetheart

The CEO's and Executives are to busy putting their arms around the boatloads of cash and flying off to their favorite island in the Bahamas to off shore their money before the U.S. economy collapses.
I wish corporate CEO's and Executives didn't have business as a "socially acceptable" way to display their being true Psychopaths....then they would all be criminals serving time in Federal Prisons.

[Marthe48]

10. Never a waste to send well-chosen words

and I'll feel better

[UpInArms]

5. Related: Drugmakers allegedly inflated prices over 1,000% and 44 states are now suing

U.S. states filed a lawsuit accusing Teva Pharmaceuticals USA of orchestrating a sweeping scheme with 19 other drug companies to inflate drug prices — sometimes by more than 1,000% — and stifle competition for generic drugs, state prosecutors said on Saturday.

... snip ...

With Teva at the center of the conspiracy, the drug companies colluded to significantly raise prices on 86 medicines between July 2013 and January 2015, the complaint said.

Representatives of Sandoz, another company named in the lawsuit, did not immediately respond to a request for comment.

The drugs included everything from tablets and capsules to creams and ointments to treat conditions including diabetes, high cholesterol, high blood pressure, cancer, epilepsy and more, they said. In some instances, the coordinated price increases were more than 1,000 percent, the lawsuit said.

The lawsuit also names 15 individuals as defendants who it said carried out the schemes on a day-to-day basis.

More at https://www.cnbc.com/amp/2019/05/11/us-states-accuse-teva-and-other-drugmakers-of-colluding-to-inflate-prices-over-1000percent.html

........

Deregulation has fostered corporate greed ... I wish that corporations truly were people and they could be given the death penalty

[pnwmom]

6. Notice it is the STATES doing this -- not DT's worthless administration. n/t

[DENVERPOPS]

8. Anyone got the figures

Does anyone have the figures on Big Pharma's political donations to Trump and all his minions in the House and Senate??????
Who was it that said, "The best government that money can buy"
The Republicans are insisting that the presidential seal be changed to "United Corporations of America." We are almost there, folks!!
The dictionary defines FASCISM as a merging of corporations and Government........

[hughee99]

11. Exactly! I remember when Mylan jacked up the price of the epipen.

Their CEO is the daughter of a US Senator. I don’t believe anyone was prosecuted, though they did have to pay a fine to the states, but individuals were out of luck for this device that cost $120 for 2 in 2009 and $609 by 2016 (the device that cost $35 to make). Just recently, last year, after years and years of applications the government finally approved a competitor to produce a generic which would threaten Mylan’s market share. That competitor is Teva Pharmaceutical. These sort of problems have been going on a long time.

[rickyhall]

9. These drug pushers are officially DRUG CARTELS

They're no better than Escobar & those like him