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Settlement reached over prescription drug price manipulation

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Thursday, November 21, 2024

Settlement reached over prescription drug price manipulation

State AG
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Attorney General Michelle Henry | Democratic Attorneys General Association Website

Attorney General Michelle Henry has announced a $49.1 million settlement involving Heritage Pharmaceuticals and Apotex, addressing claims of price inflation and manipulation of generic prescription drugs. This settlement is part of a broader legal effort involving 50 states and territories.

The agreement stipulates that the two companies will pay $49.1 million to consumers who purchased their products between 2010 and 2016. Additionally, the companies will assist in ongoing multistate litigation against 30 corporate defendants and 25 individual executives. The first trial in these matters is set to take place in Hartford, Connecticut.

"Generic versions of prescription drugs are supposed to be more affordable, while offering the same health benefits to those who need them," stated Attorney General Henry. "These greedy companies harmed Pennsylvanians by intentionally inflating prices and reducing competition."

The settlements aim to compensate consumers affected by the alleged price manipulations. Eligible individuals can inquire about their compensation eligibility by calling 1-866-290-0182, emailing info@AGGenericDrugs.com, or visiting www.AGGenericDrugs.com.

Pharmacists in Pennsylvania have the authority to substitute name-brand prescriptions with generic brands unless specifically prescribed otherwise.

Connecticut's Assistant Attorney General Joseph Nielsen leads this coalition of nearly all states and territories. The legal action began with an antitrust complaint filed in 2016 against Heritage and other defendants, including former Heritage executives Jeffery Glazer and Jason Malek, who have since settled and are cooperating. A subsequent complaint was filed in 2019 targeting Teva Pharmaceuticals along with other major generic drug manufacturers.

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