glenmark-shutterstock-com
Pavel Kapysh / Shutterstock.com
2 July 2020GenericsMuireann Bolger

Glenmark becomes fifth generic to be charged with US antitrust violations

Glenmark Pharmaceuticals has been charged with conspiring to fix prices for generic drugs, according to a statement released by the  US Department of Justice.

The charge, filed in the  US District Court in Philadelphia, Pennsylvania on Tuesday, June 30, alleges that Glenmark conspired with other generic drug companies, including Apotex, to increase and maintain prices of pravastatin and other generic drugs between May 2013 and December 2015.

Glenmark is the fifth company to be charged over the last 13 months in connection with  antitrust violations in the generic pharmaceutical industry.

Pravastatin is a prescription medication that reduces cholesterol, helping to prevent heart attacks and strokes. The charge alleges that the gain to the conspirators, and the loss to the victims, was at least $200 million.

The charge is a result of an ongoing federal antitrust investigation into market allocation, price-fixing, bid-rigging, and other anticompetitive conduct in the generic pharmaceutical industry, by the US Antitrust Division.

“By cheating through fixing prices, generic drug companies artificially raised prices even though prescription drug costs were already sky-high,” said the division’s assistant attorney general, Makan Delrahim.

Delrahim added: “As today’s charge shows, the Antitrust Division will not hesitate to charge these companies, and litigate where necessary, particularly where their crimes resulted in hundreds of millions of dollars in overcharges for life-saving medications.”

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Adrian Tapping at atapping@newtonmedia.co.uk


More on this story

Americas
11 June 2020   A coalition of attorneys general have taken 26 drugmakers, including Pfizer, Sandoz and Mylan, to court over the alleged price-fixing of topical generic drugs.
Generics
26 August 2020   Teva Pharmaceuticals has been charged with conspiring to fix prices, rig bids, and allocate customers for generic drugs, the US Department of Justice has announced.
Americas
7 January 2021   Pharmaceutical companies MSD and Glenmark have argued that the class certification of wholesale buyers of cholesterol drug Zetia should be reversed because the circumstances of the class members do not justify an award of class status.

More on this story

Americas
11 June 2020   A coalition of attorneys general have taken 26 drugmakers, including Pfizer, Sandoz and Mylan, to court over the alleged price-fixing of topical generic drugs.
Generics
26 August 2020   Teva Pharmaceuticals has been charged with conspiring to fix prices, rig bids, and allocate customers for generic drugs, the US Department of Justice has announced.
Americas
7 January 2021   Pharmaceutical companies MSD and Glenmark have argued that the class certification of wholesale buyers of cholesterol drug Zetia should be reversed because the circumstances of the class members do not justify an award of class status.

More on this story

Americas
11 June 2020   A coalition of attorneys general have taken 26 drugmakers, including Pfizer, Sandoz and Mylan, to court over the alleged price-fixing of topical generic drugs.
Generics
26 August 2020   Teva Pharmaceuticals has been charged with conspiring to fix prices, rig bids, and allocate customers for generic drugs, the US Department of Justice has announced.
Americas
7 January 2021   Pharmaceutical companies MSD and Glenmark have argued that the class certification of wholesale buyers of cholesterol drug Zetia should be reversed because the circumstances of the class members do not justify an award of class status.