Taro Pharma to pay more than $200 million to settle generic-drug price-fixing case

The Department of Justice Department says Taro Pharmaceuticals will pay a $205.7 million fine to settle allegations it participated in a generic drug price fixing scheme. Taro accepted a deferred-prosecution agreement under which it will cooperate with the investigation, pay restitution, and pay $213.3 million in civil damages to resolve claims related to federal health care programs. The department says Taro took part in two criminal antitrust conspiracies that each involved a competing generic drug manufacturer and various executives. The department adds that Taro acknowledged its sales “affected by the charged conspiracies” exceeded $500 million. The Justice Department will drop two felony counts after a 3-year period if the company fulfills its commitments.