Taro Penalties Exceed $400m As It Admits Fixing Prices With Sandoz
Criminal Penalty And Civil Damages Announced
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.
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Sun Pharma’s US subsidiaries have agreed to pay out $85m to settle US antitrust litigation over generic price-fixing with direct purchaser plaintiffs.
Three civil settlements worth more than $447m in total have been reached with the US Department of Justice by Sandoz, Apotex and Sun’s Taro to resolve allegations over price-fixing. The deals follow criminal penalties previously paid by the three companies.
Teva has struck a $950,000 deal to settle US price-fixing litigation with the state of Mississippi, in what the firm anticipates could be the first of multiple settlements with individual US states.