Two Former Pharma Executives Charged With Conspiring To Fix Prices
“These two executives sought to enrich themselves at the expense of sick and vulnerable individuals who rely upon access to generic pharmaceuticals as a more affordable alternative to brand-name medicines,” Deputy Assistant Attorney General Brent Snyder said.
The Wall Street Journal:
Two Former Heritage Executives Charged With Generic Drug Price-Fixing
The former chief executive and former president of generic drug company Heritage Pharmaceuticals Inc. have been charged with conspiring to fix prices, the first charges in a continuing Justice Department antitrust probe. In charges unsealed Wednesday, prosecutors allege former Heritage CEO Jeffrey A. Glazer and former President Jason T. Malek conspired with competitors to fix prices and allocate customers for the antibiotic doxycycline hyclate and glyburide, used to treat diabetes. (Kendall, 12/14)
The Associated Press:
Federal Prosecutors Accuse Execs Of Fixing Drug Prices
Federal prosecutors have charged two former pharmaceutical executives with fixing prices of generic drugs, part of an ongoing government investigation into anticompetitive tactics by companies that make lower-cost drugs intended to reduce medication costs. The Department of Justice accused two former Heritage Pharmaceuticals executives of conspiring to fix prices, rig bids and avoid competing with other drugmakers in marketing two generic drugs. (12/14)
Stat:
Former Heritage Execs Charged In Generic Price-Fixing Probe
Two former Heritage Pharmaceuticals executives were accused by federal authorities on Wednesday of conspiring with rivals to fix prices for a widely used antibiotic, the first criminal charges to stem from a two-year investigation into price collusion among generic drug makers. Jeffrey Glazer, who was the chief executive officer, and Jason Malek, the former president, allegedly worked with other generic drug makers to fix the market for doxycycline hyclate, an antibiotic, and a diabetes treatment called glyburide, according to documents filed in federal court in Philadelphia. The price fixing largely took place between 2013 and 2015, and involved “communications with co-conspirators,” the documents noted. (Silverman, 12/14)
In other news on drug prices —
Stat:
FDA Scolds Two Drug Makers For TV Ads That Obscure Risk Info
The US Food and Drug Administration scolded two drug makers for using loud music and fast-paced visuals in their television ads that obscured important risk information. In both cases, the agency contended the techniques would distract consumers being able to adequately comprehend and process effect warnings, according to a pair of letters sent on Monday to the drug makers. One letter was sent to Celgene over concerns for an ad promoting its Otezla psoriasis pill and the other was sent to Sanofi expressing dissatisfaction with an ad for its Toujeo diabetes treatment. (Silverman, 12/14)
The Hill:
AARP Takes Aim At Skyrocketing Drug Prices For Seniors
Brand name prescription drugs popular with seniors have become dramatically more expensive in the last decade, and a report by AARP puts the blame squarely on drugmakers. Leigh Purvis, director of health services research in AARP’s Public Policy Institute, told The Hill Extra a major culprit is the government’s lack of negotiating power with industry. (Harper, 12/14)
