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Drug Makers Facing Another Class Action Over Alleged Price Fixing

The Detectives Endowment Association of the City of New York has filed a proposed class action in Pennsylvania against a collection of drug manufacturers who allegedly conspired to artificially inflate the prices of and essentially fix the market for the widely used generic cholesterol-lowering medication pravastatin sodium.

The 61-page complaint lists the following companies as defendants:

  • -Actavis Holdco U.S., Inc.
  • -Apotex Corp.
  • -Dr. Reddy’s Laboratories, Inc.
  • -Glenmark Pharmaceuticals Inc., USA
  • -Lupin Pharmaceuticals, Inc.
  • -Mylan Inc.
  • -Mylan Pharmaceuticals Inc.
  • -Teva Pharmaceuticals USA, Inc.
  • -Zydus Pharmaceuticals (USA) Inc.

The lawsuit notes that the price of generic pravastatin sodium increased “between 300% and 600%” between the fourth quarter of 2013 and the second quarter of 2014, a spike the case says is the result of the defendants’ “conspiracy to fix, raise, maintain, and stabilize the prices of, as well as allocate customers and markets for” the drug. The defendants’ alleged collusion was orchestrated through “secret communications and meetings,” the plaintiff argues.

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