Teva Pharmaceutical Indicted on Charges of Generic Drugs Price-Fixing

The U.S. Department of Justice announced late Tuesday that Teva Pharmaceutical (NYSE: TEVA) has been charged with three counts of conspiring to fix prices of generic drugs, among other crimes.

The Justice Department alleges that Teva took part in three conspiracies intending to "fix prices, rig bids and allocate customers" for such goods. It did so in collusion with peer companies active in the manufacture, sale, and distribution of generic drugs, the DOJ charges. The affected medications included cholesterol drug pravastatin, in addition to numerous other drugs that treat afflictions such as arthritis, blood clots, and hypertension.

Image source: Getty Images.

Continue reading

Source Fool.com