TN AG Announces New Settlement with Generic Drug Manufacturers to Protect Consumers from Illegal Price Inflation

TN AG Announces New Settlement with Generic Drug Manufacturers to Protect Consumers from Illegal Price Inflation

NASHVILLE-Today, Tennessee Attorney General Jonathan Skrmetti announced two significant cooperation agreements and settlements with Corporate Defendants Heritage Pharmaceuticals and Apotex-contingent upon obtaining signatures from all necessary states and territories-totaling $49.1 million to resolve allegations that both companies engaged in widespread, long-running conspiracies to artificially inflate and manipulate prices, reduce competition, and unreasonably restrain trade with regard to numerous generic prescription drugs.

As part of their settlement agreements, both companies have agreed to cooperate in the ongoing multistate litigations against thirty corporate defendants. Both companies have further agreed to a series of internal reforms to ensure fair competition and compliance with the antitrust laws.

"When generic drug companies stifle competition to inflate prices, consumers suffer," said Tennessee Attorney General Skrmetti. "I am proud that my office is working with colleagues across the country to hold these pharmaceutical companies accountable. With over $49 million in the national settlements, this is a serious consequence for bad acts and a warning to other complicit corporations that justice is coming."

The series of investigations into generic drug price fixing conspiracies began in 2016 with the Office of the Connecticut Attorney General who worked with several cooperating witnesses to uncover a conspiracy to inflate prices and illegally stifle competition. This and other conspiracies were later confirmed through the discovery of countless documents and phone records detailing corporation executives' efforts to fix prices and allocate the market for generic drugs. Text messages and notes from a two-volume journal also revealed that corporate executives had been planning their illicit schemes over luncheons, dinners, corporate golf outings, and cocktail parties.

If you purchased a generic prescription drug from either of these two companies between 2010 and 2018, you may be eligible for compensation. To determine your eligibility, call 1-866-290-0182 (Toll-Free), email [email protected] or visit www.AGGenericDrugs.com.

Led by Connecticut, Tennessee joins Alaska, Arizona, California, Colorado, Delaware, District of Columbia, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Northern Mariana Islands, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Utah, U.S. Virgin Islands, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming, and Puerto Rico in today's announcement.

You can read the Heritage settlement here.

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