cbaker_admin
Wed, 08/26/2020 – 09:30
The Department of Justice’s (DOJ) antitrust division has charged Teva Pharmaceutical’s U.S. arm with fixing prices on cholesterol medication and other drugs. DOJ brought the case in a Pennsylvania federal court, accusing Teva Pharmaceuticals USA of anti-competitive conduct that resulted in at least $350 million in overcharges to consumers. In addition to fixing prices, prosecutors say Teva manipulated bids and involved customers in three different schemes, including one for pravastatin (Pravachol), a commonly prescribed cholesterol drug. A second conspiracy allegedly consisted of price fixing on medications used to treat arthritis, seizures, pain, skin conditions, and blood clots, according to DOJ, while a third involved drugs used to treat brain cancer, cystic fibrosis, arthritis, and hypertension. In a statement, the generic drugmaker rejected the allegations and said its own internal investigation found no price fixing. Teva says it attempted to reach a resolution but DOJ “has shown an unwillingness to consider alternatives that would not deeply impact Teva and the stakeholders who depend on the company, including the patients who benefit from our medicines.” A felony conviction of Teva could lead to financial penalties and exclusion from federal health care programs.
