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Saturday, November 2, 2024

Generic drug firms settle price-fixing allegations for $49.1 million

State AG
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Vermont Attorney General Charity Clark | Democratic Attorneys General Association Website

Attorney General Charity Clark has announced settlements with Heritage Pharmaceuticals and Apotex, amounting to $49.1 million nationwide. These settlements address allegations of conspiracies to inflate prices and limit competition in the generic drug market. Both companies are accused of manipulating prices and restraining trade for various generic prescription drugs.

The settlement with Heritage, valued at $10 million, was filed in the United States District Court for the District of Connecticut. The Apotex settlement, worth $39.1 million, awaits signatures from all necessary states and territories before being finalized.

"Vermonters are struggling to afford the cost of their medications," stated Attorney General Clark. "When pharmaceutical companies distort the market...they are lining their own pockets at the expense of Vermonters."

Consumers who purchased drugs from these manufacturers between 2010 and 2018 may be eligible for compensation. A claims administrator will notify those affected.

A coalition of nearly all states began filing antitrust complaints in 2016 against multiple defendants including Heritage and Teva Pharmaceuticals. Several executives have since entered into settlement agreements.

States involved include Vermont, Alaska, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Indiana among others.

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