Probe Of Generic Drug Companies’ Pricing Could Bring Charges By Year’s End, Bloomberg Reports
The news organization says the federal antitrust probe is looking at more than a dozen companies and about two dozen drugs.
Bloomberg:
U.S. Charges In Generic-Drug Probe To Be Filed By Year-End
U.S. prosecutors are bearing down on generic pharmaceutical companies in a sweeping criminal investigation into suspected price collusion, a fresh challenge for an industry that’s already reeling from public outrage over the spiraling costs of some medicines. The antitrust investigation by the Justice Department, begun about two years ago, now spans more than a dozen companies and about two dozen drugs, according to people familiar with the matter. The grand jury probe is examining whether some executives agreed with one another to raise prices, and the first charges could emerge by the end of the year, they said. (McLaughlin and Chen, 11/3)
The Wall Street Journal:
Generic-Drug Firms Face Possible Collusion Charges
Federal prosecutors, after a lengthy probe, are nearing possible criminal charges for price-collusion in the generic-drug industry, according to a person familiar with the matter. The U.S. Justice Department could begin to bring cases before year’s end, though the timing of any potential enforcement actions remains uncertain, according to the person familiar with the matter. (Loftus, Kendall and Matthews, 11/3)
The New York Times:
News Of Charges In Price-Fixing Inquiry Sends Pharmaceuticals Tumbling
The generic drug industry was jolted on Thursday as shares of many major companies tumbled after a news report said that a federal inquiry into drug price-fixing was wider than previously believed and could lead to charges by the end of the year. Shares in Teva Pharmaceuticals, the world’s largest generic drug maker, fell more than 9 percent, and the stock of competitors like Mylan, Endo Pharmaceuticals and Impax Laboratories had similar declines. (Thomas, 11/3)
