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Saturday, November 2, 2024

Drummond announces settlements over alleged price inflation by drug manufacturers

State AG
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Attorney General Gentner Drummond | Ballotpedia

Attorney General Gentner Drummond has announced two cooperation agreements and settlements totaling $49.1 million with Heritage Pharmaceuticals and Apotex. These settlements address allegations that the companies were involved in conspiracies to inflate prices on generic prescription drugs.

Individuals in Oklahoma who purchased generic prescription drugs between January 1, 2010, and December 31, 2018, may be eligible for compensation. Both companies have agreed to cooperate in ongoing multistate litigations against several corporate defendants and individual executives. They also committed to implementing internal reforms to ensure fair competition and compliance with antitrust laws.

A motion for preliminary approval of a $10 million settlement with Heritage will be filed in the U.S. District Court for the District of Connecticut in Hartford. The $39.1 million settlement with Apotex awaits signatures from all necessary states and territories before finalization.

"This is a positive development in our fight to hold accountable drug manufacturers for artificially manipulating prices," said Drummond. "I hope Oklahomans who are eligible will seek the compensation to which they are entitled."

The settlements coincide with preparations by a coalition of nearly all states and territories for an upcoming trial in Hartford, Connecticut. This coalition has filed three antitrust complaints since 2016 involving numerous corporate defendants, including Heritage Pharmaceuticals, Teva Pharmaceuticals, and others.

The cases stem from investigations supported by evidence from cooperating witnesses, extensive document databases, and phone records detailing communications among industry executives that led to illegal agreements.

For more information on eligibility for compensation, individuals can visit www.aggenericdrugs.com or contact via toll-free number or email provided.

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