LAWSUIT ACCUSES TEVA OF WORKING WITH DRUG FIRMS TO INFLATE PRICES

This weekend prosecutors for 44 U.S. states outlined their cases for why the filed a lawsuit against 20 drug firms for conspiring to inflate drug prices. The prosecutors are claiming in the suit filed in the U.S. District Court in Connecticut Friday that Teva Pharmaceuticals USA orchestrated the scheme with 19 other drug firms to stifle competition for generic drugs and increase prices sometimes by more than 1,000%.  The allegations center around treatments for a number of health issues including cancer, diabetes and high cholesterol.

Notable Quotes: “We have emails, text messages, telephone records and former company insiders that we believe will prove a multi-year conspiracy to fix prices and divide market share for huge numbers of generic drugs.” – Connecticut Attorney General William Tong