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News & Press: Montana News

Montana joins lawsuit against pharmaceuticals on drug pricing

Thursday, May 16, 2019  
Posted by: Joe Menden
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Montana has joined in a lawsuit against Teva Pharmaceuticals and 19 of the nation’s largest generic drug manufacturers, alleging they artificially inflated and manipulated prices, reduced competition and restrained trade for more than 100 generic drugs, Attorney General Tim Fox said.

The lawsuit, filed May 10 by 43 other states and territories, also names 15 senior executive defendants responsible for sales, marketing, pricing and operations. The drugs account for billions of sales in the U.S., Fox said in a news release. This included increased prices affecting the health insurance market, taxpayer-funded health care programs such as Medicare and Medicaid, and people who must pay artificially inflated prices for their prescription drugs.

“Montanans have been hit hard by the often shockingly high prices of prescription drugs. The evidence in this case shows that some of the most well-known generic drug manufactures were involved in a widespread conspiracy to fix prices and divide up market share, with the direct result of harming consumers in need of life-sustaining medicine,” Fox said in the news release.

He added the fact that generic drugs are supposed to be more affordable makes this conduct all the more troubling.