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Israel drugmaker Teva vows to fight US price-fixing lawsuit
JERUSALEM, May 11, 2019 (BSS/AFP) – Israeli pharmaceutical giant Teva
vowed Saturday to defend itself after being accused of orchestrating price-
fixing among drugmakers in a US antitrust lawsuit.
According to The Washington Post, 40 American states joined forces
Friday to sue more than a dozen former and current executives of generic
drugmakers.
“That the biggest generic drug manufacturer in the world is one of the
leaders of this marketwide collusion is beyond disappointing,” Connecticut
state attorney general William Tong told the Post.
“Teva had understandings with its highest quality competitors to lead
and follow each other’s price increases, and did so with great frequency and
success,” the complaint charges, “resulting in many billions of dollars of
harm to the national economy over a period of several years.”
The lawsuit alleges that companies agreed on prices rather than
competing, effectively raising the cost of over 100 drugs.
A spokeswoman for Teva in Israel dismissed the lawsuit as nothing other
than “claims”.
“Teva will continue to examine the issue internally and there is nothing
in its conduct that could lead to civilian or criminal accountability,” she
said in a statement sent to AFP.
“Teva supplies high quality medication to patients around the world
while retaining its commitment to all laws and rules,” she said.
“We will continue to resolutely defend the company.”
Last year, the Israeli justice ministry fined Teva $22 million for
bribing foreign officials to win business in Russia, Ukraine and Mexico,
rather than pressing charges in court against the drugmaker.
BSS/AFP/RY/1905 hrs