Former Taro Executive Faces US Antitrust Indictment
Ara Aprahamian Accused Of Price-Fixing And Allocating Customers
Former Taro executive Ara Aprahamian has been accused in the US of conspiracies covering generic price-fixing and allocation of customers, as well as for making false statements to investigating federal agents.
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In the latest development arising from ongoing generic pricing investigations in the US, Taro has admitted to fixing prices, allocating customers and rigging bids for generic medicines, under a conspiracy with multiple firms, including Sandoz.
A third major price-fixing lawsuit has been filed in the US, naming over two dozen companies and ten individuals in allegations covering 80 generic presentations, focusing in particular on topical drugs.
Apotex has agreed to pay a $24.1m fine and enter into a deferred prosecution agreement to resolve US price-fixing claims over the cholesterol-lowering drug pravastatin.