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Nevada joins other states in drug price-fixing lawsuit | Las Vegas Review-Journal

Nevada Attorney General Aaron Ford has signed on to a lawsuit filed by 42 states and Puerto Rico against a long list of pharmaceutical companies, alleging price fixing and market manipulation that artificially increased costs for dozens of common generic drugs nationwide.

The lengthy complaint names drugmakers including Teva Pharmaceuticals USA Inc., Pfizer Inc., Breckenridge Pharmaceutical Inc., Glenmark Pharmaceuticals Inc. and several others, along with individuals associated with those companies.

“For many years, the generic pharmaceutical industry has operated pursuant to an understanding among generic manufacturers not to compete with each other and to instead settle for what these competitors refer to as ‘fair share,’” the complaint reads. “Apparently unsatisfied with the status quo of ‘fair share’ and the mere avoidance of price erosion, Teva and its co-conspirators embarked on one of the most egregious and damaging price-fixing conspiracies in the history of the United States.”

The complaint alleges that generic drug price increases resulted in billions of dollars of harm to the economy over the life of the alleged scheme. Drugs listed in the lawsuit treat common ailments including diabetes, high blood pressure, high cholesterol, cancer and various ailments.

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Nevada joins other states in drug price-fixing lawsuit | Las Vegas Review-Journal.