A major antitrust lawsuit being brought by 44 US states against 20 generic drugmakers hit many of the companies' stocks hard on Monday, amid a broad-based drop in the US equity market.
Teva and Mylan, two major generic drugmakers named prominently in this lawsuit and another, similar one, could stand to lose more in the form of potential billion-dollar fines, according to new notes from analysts at UBS.alleges that the 20 drug companies worked together in a"broad conspiracy to artificially inflate and manipulate prices, reduce competition and unreasonably restrain trade for more than 100 different generic drugs.
Those drugs included treatments for cancer, HIV and more, with price increases in some cases of more than 1,000%. In addition to the companies, the suit 15 individual senior executives as defendants, including several former Teva employees and Mylan's current vice president of sales.against nearly 20 generic drugmakers, including Mylan and Teva, though the scope of that one was more limited
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:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
A $2 Million Drug Is About to Hit the MarketA new treatment for an infant muscle-wasting disease is about to go on sale at a potential cost of $2 million, a record price tag likely to fuel the continuing scrutiny of how companies price drugs and how insurers pay for it. This should be classified as a human rights violation. I'll take two, please. I don't believe $2 Million is justified. It is Medical Extortion, nothing more!
Source: WSJ - 🏆 98. / 63 Read more »
‘Uh-Oh, Here We Go Again’: This Week’s Trade Standoff Wipes $2 Trillion Off Global StocksAs expectations for a U.S.-China trade accord faded stocks in trade-sensitive sectors and emerging-market currencies tumbled. Meanwhile, investors braced for more choppiness ahead and piled into ultrasafe government bonds. Donald Trump is destroying US in the same ways he destroyed every single business he ran into the ground. I understand Congress delegated authority to enact tariffs for national defense reasons. But, the WH makes no pretense about defense considerations. Would constitutional conservatives on SCOTUS back the unconstitutional taxing by Exec Branch? If so, why I've said it many times now. Trump is a hazard to your wealth. Doesn't matter which end of the spectrum you are in financially.
Source: WSJ - 🏆 98. / 63 Read more »
Stocks making the biggest moves premarket: Disney, Teva Pharmaceuticals, Uber, Pinterest & moreThese are the stocks posting the largest moves before the bell.
Source: CNBC - 🏆 12. / 72 Read more »