Generic drug companies, executives slapped with price-fixing lawsuit

  • 📰 CNN
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 95%

Business News News

Business Business Latest News,Business Business Headlines

A coalition of 44 states filed a lawsuit alleging that 20 major drug manufacturers conspired to artificially inflate and manipulate the prices of more than 100 generic drugs.

Drugs named in the lawsuit account for billions of dollars in the United States. They include treatments for cancer, HIV, diabetes, epilepsy, depression and other medical conditions, according to a statement released Sunday by the office of Connecticut Attorney General William Tong.

In January, federal filings showed that the lobbying group for the pharmaceutical industry spent about $27.5 million on lobbying in 2018 amid pressure to lower drug prices. This is a record annual total for the Pharmaceutical Research & Manufacturers of America, or PhRMA, which represents most of the nation's largest drug companies, including Teva and Pfizer.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Its about time

Yayy! Take them down, States! Show them whose boss!

Drug Manufactors greed is unsurpassed and the Multi Nationals are right behind !

If this was China they would be executed

I worked traveling world wide for over 17 yrs.I went into Pharmacies in 6 different countries and found cheap drugs MADE in America. Some as little as 10 cents a pill to the most expensive 50 cents for a mix of pills the U.S. was paying $1.25 to $5.00 a pill

should we guess on the 6 states that say it's OK?

Yeah? Tell me something I don’t know

The cartel leaders should be treated just like the cartel leaders from the Mexican Drug trade. A reservation in Colorado at the SuperMax prison. There’s no difference between them.

How else are they supposed to pay for those dreadful TV ads? This really wouldn't surprise me, if true.

Sumatriptan - $400 for 1 injection for a Migraine.

Lawsuits and price-fixing; the American way.

Democrat

Ya. How many politicians got greased? Out of control. Get all this money out of politics. Only voter donations should be allowed. And capped at $100 per donar. No private money. None.

See what happens when everyone works together!

CNN likes to GoThere they say...I can't help but think the ridiculous inflation of pill prices is to coincide and keep up with the illegal drug market. You know damn well there's some white on those coats that make those coats dirty, y'all just gotta find a way to prove it.

The Joy's of big pharma. They will drag it out for years unfortunately.

Not a single one will spend a day in prison...

Human suffering is profitable

Is this why my Rx for insulin (an 80 y.o. drug) is over $100/month Yet my much newer blood pressure & cholesterol meds are only $5!! WTF’s UP WITH THAT

Watch the 60 Minutes segment that was on yesterday - very informative.

You realize... If drug companies don't make a profit... They don't make drugs .. take oil. A barrel of oil contains fifty gallons of oil that they use to make gasoline, plastics, heating world, clothes... So at $60. A barrel the oil companies make a 100% profit if gas is $1.20 .

I see Trump's/GOP's drug reduction pricing is working ... NOT. Another false promise from DT realDonaldTrump

get em

If this is true there must be consequences.

About time. Ordinary people cannot afford medications anymore.

The DC dems alleged Congress people claim there exists in America now, a Constitutional Crisis. Such is fake malarkey. The actual news is that their is a Congressional Crisis. Congress is loaded with do nothing, seat warming, sycophants, leaderless folks. CONGRESSIONAL CRISIS

Bernie2020 is going to bring down prescription drug costs by 50%.

This is great. You've allowed the Malicious by Design or cultivation to guide You. You'll pay.

Does look bad...but are we sure the full priced drug companies aren't attacking the generic ones?

Price fixing should be legal af.

Hell yeah. Take those fuckers down.

NO DRUGS NEEDED to watch real NEWS

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Top 20 Oil Companies Improved Cash Flow By $34 BillionIt is commonly accepted that fracking companies don't make money. Well, some of them do, but some that don't have seen their share prices explode. Further, the industry overall has made huge improvements since 2014. Time to buy DNR Earnings today!
Source: Forbes - 🏆 394. / 53 Read more »