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Tennessee AG announces settlement with drug manufacturers over price inflation

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Sunday, November 24, 2024

Tennessee AG announces settlement with drug manufacturers over price inflation

State AG
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Attorney General Jonathan Skrmetti | Ballotpedia

Tennessee Attorney General Jonathan Skrmetti has announced settlements with Heritage Pharmaceuticals and Apotex. These agreements, pending signatures from all required states and territories, amount to $49.1 million. The settlements address allegations of price inflation and manipulation in the generic drug market.

Both companies have agreed to cooperate in ongoing multistate litigations against thirty corporate defendants. They will also implement internal reforms to ensure compliance with antitrust laws.

"When generic drug companies stifle competition to inflate prices, consumers suffer," said Tennessee Attorney General Skrmetti. "I am proud that my office is working with colleagues across the country to hold these pharmaceutical companies accountable. With over $49 million in the national settlements, this is a serious consequence for bad acts and a warning to other complicit corporations that justice is coming."

The investigations into price-fixing conspiracies began in 2016 by the Office of the Connecticut Attorney General. Evidence included documents and phone records revealing efforts by corporate executives to fix prices and allocate markets for generic drugs.

Consumers who purchased generic prescription drugs from these companies between 2010 and 2018 may be eligible for compensation. Information on eligibility can be obtained by calling 1-866-290-0182, emailing info@AGGenericDrugs.com, or visiting www.AGGenericDrugs.com.

Connecticut leads this effort with participation from numerous states including Tennessee, Alaska, Arizona, California, Colorado, Delaware, District of Columbia, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Northern Mariana Islands Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Utah U.S Virgin Islands Vermont Virginia Washington West Virginia Wisconsin Wyoming Puerto Rico.

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