Pharma Companies Hit with Two Price-Fixing Lawsuits

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Two Louisiana insurance companies have jointly filed two different lawsuits against pharmaceutical companies for allegedly conspiring to fix the prices of generic drugs.

The first suit claims nine drug manufacturers raised the price of generic pravastatin between 300 and 600 percent over a period of 8 months. The plaintiffs’ customers are dependent on this drug, which is used to treat high cholesterol and triglycerides, and are forced to pay whatever price the defendants ask, according to the complaint.

The second suit has been filed against four pharmaceutical companies and two individual officers of one of the companies. It claims that the defendants conspired to fix the price of generic glyburide, which is used to treat type 2 diabetes. According to the complaint, the individual defendants have pled guilty in a recent lawsuit over similar allegations.

The plaintiffs argue that the defendants’ anticompetitive behavior has artificially inflated the cost of medicine on which thousands of consumers depend, and has forced them to pay unreasonably high prices for the drugs, to the manufacturers’ benefit.

Complaint 1

Complaint 2