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
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