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"The suit alleges that for many years these makers of generic drugs operated under an agreement not to compete with one another and to settle instead for what these companies referred to as a "fair share" of the market to avoid pushing prices down through competition.
But by 2012, the suit says, Teva and the other companies decided to "take this understanding to the next level." It alleges that "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 suit says that the companies sought not only to maintain their "fair share" of the generic drug market, but also to "significantly raise prices on as many drugs as possible."
Is this the free market fixing the healthcare system? Asking for a friend...
But by 2012, the suit says, Teva and the other companies decided to "take this understanding to the next level." It alleges that "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 suit says that the companies sought not only to maintain their "fair share" of the generic drug market, but also to "significantly raise prices on as many drugs as possible."
Is this the free market fixing the healthcare system? Asking for a friend...
States' lawsuit accuses generic-drug makers of fixing prices
Attorneys general from more than 40 states are alleging the nation's largest generic drug manufacturers conspired to artificially inflate and manipulate prices for more than 100 different generic drugs, including treatments for diabetes, cancer, arthritis and other medical conditions.
www.latimes.com