Forty-four states accuse Teva Pharmaceutical of inflating drug prices



ever Milan Pfizer even Novartis all involved in a complaint from 44 states filed by their state AG's basically alleging that the companies or the drug makers generic drugmakers conspired to inflate prices here's a quote from from the lawsuit rather than enter a particular generic drug market by competing on price in order to gain market share competitors in the generic industry would systematically and routinely communicate with one another directly divvy up customers create an artificial equilibrium in the market and then maintain anti-competitive lehigh prices that of course have been playing again 44 states involved in that far-reaching lawsuit for its part as you might imagine Tara and the other generic competitors say they have not engaged in any conduct that would lead to civil or criminal liability but TEVAR which has just had a brutal run of it to begin with down another 10% Carl yep we're gonna keep that story in mind Jim thoughts on that what we're seeing there okay this statements very interesting because it says they don't respect civil or criminal of course if the Justice Department joined us it is criminal it's a violation that's terminated trust it's 10 years in prison I do not go yeah you do not pass go do not collect 200 years I think everybody knows that anyone who remembers Aubrey McClendon late Aubrey McClendon great man but he did conspire to try to keep natural gas prices where they were he was facing 10 years the Justice Department is listening David does this Justice Department have a sense that if this is true then TEVAR and Milan have to be prosecuted criminally which means they're CEOs Jim that would be quite a quite a moment I have no insight whatsoever on that one would imagine though I mean if you're gonna coordinate 44 states it's something that would happen over a long period of time unclear to me where if anywhere the deal you know the Department of Justice stands on this Jim yeah I mean look they have to hope that the Justice Department says you know what we're the new Justice Department we don't favor regulation I don't know the redacting tells you that they are the new Justice Department this is a breakdown for surprises also sort of resonate really Wow holy cow heaven Milan in the same room do they have tapes we have to find out if they have tapes do they have emails if they don't it might be okay if there are tapes and emails saying listen but you got to keep the price of diazepam set at $1,500 per per needle I haven't know that's the price unfortunately then what happens is look we've got evidence of collusion if they've evidence collusion goes right to the just Department if it goes right to the Justice Department then the executives are real trouble Wow obviously we're nowhere near that level at least as in today now let's get to the bomber Lee but yeah I'm early but Karl the stops are indicating that well maybe it's not a buying opportunity you

3 Comments

  1. Criminal charges against a pharmaceutical CEO or any CEO while Republicans are in office is just as likely as the step sister porn on pornhub. Sure it may get some people excited but its just a fantasy that'll never happen and even if it did it'd create a really messy situation.

  2. It's not hard to gave a game of golf and give each other a wink. One company can raise price and take a loss in hopes that the other company will follow through. This market is so inelastic that any laws of human nature regarding competition will go out the window, if they sacrifice short term losses for the long term gains. What regulators should do is open access to drugs outside the US. That will fuck them in the butt.

  3. Trump has changed the conversation on drug companies. Unlike the last administration that let us pay more and watch America’s youth OD, Trump is going to war with these evil crooks.

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