Sandoz Strikes $195m Deal On US Price-Fixing
Admits Role In Antitrust Conspiracies As Part Of US Investigation
Sandoz has agreed to pay a $195m criminal penalty, the largest for a US antitrust case, as part of a deferred prosecution agreement with the US Department of Justice to resolve antitrust allegations as part of the country’s ongoing investigation into generic price-fixing.
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Teva has insisted it “did not participate in price fixing,” after being charged by the US Department of Justice with conspiring to fix prices for generic medicines, resulting in consumers being “allegedly overcharged at least $350m.”
In an eventful year for the off-patent industry, the world’s leading generics and biosimilars players have switched places in Generics Bulletin’s newly-compiled global sales ranking.
Teva says it remains hopeful that it can resolve US price-fixing allegations “in a positive way” with the US Department of Justice, but acknowledges that the matter could go all the way to trial.