Generic Pharmaceuticals Pricing Antitrust
Hagens Berman has filed multiple lawsuits against numerous generic pharmaceutical companies for conspiring to increase and set prices on inexpensive, commonly used generic drugs. The drugs that are the subject of the alleged conspiracy include drugs for the treatment of serious health conditions, such as heart failure, high blood pressure, and diabetes. In some cases the market saw triple-digit percentage price increases, allegedly putting the products out of reach of patients who require them.
In a typical mature market for commodity products, such as generic drugs, sellers would compete aggressively for market share by reducing prices. But the complaints allege the following: defendants here entered into a “Fair Share” agreement, through which defendants agreed to fix and raise prices, rig bids, and allocate markets for many dozens (if not hundreds) of generic drugs. To carry out this agreement, representatives of defendants communicated with their “competitors” constantly, through phone calls, emails, trade association meetings, and social events. The conspirators knew their conduct was illegal, and took extensive measures to conceal their activities – including, in some instances, allegedly intentionally destroying evidence of their incriminating communications.
The United States Department of Justice has opened a criminal investigation and has already secured guilty pleas from two high-ranking generic pharmaceutical company executives. The Attorneys General of 49 states have joined the multidistrict litigation, and they have announced that this “could be the largest cartel case in the history of the United States.”
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