Massive Lawsuit Says Big Pharma Is Price-Fixing Drugs
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FEATURING PETER MAYBARDUK – The state of Connecticut is leading a nation-wide lawsuit against the world’s biggest generic drug manufacturer Teva Pharmaceuticals and a number of other drug makers alleging a pervasive system of price-fixing. The lawsuit goes back to 2014 and has grown to 44 state Attorneys General joining in.
Drug prices, including those of generic drugs have been skyrocketing. The industry has explained the increase by claiming that companies have consolidated leading to less competition, and that FDA-ordered closures of factories were to blame. But now prosecutors say that companies have simply been illegally colluding with one another to fix prices high.
Among the evidence being presented are deleted messages between the top executives of the companies being sued.
Peter Maybarduk, director of Public Citizen’s Access to Medicines Program.
**This segment was originally broadcast on May 13, 2019.