Massive Price-Fixing, Generic Drug ‘Cartel’

Recently, the generic drug industry in the US has been found guilty of price-fixing. “This is most likely the largest cartel in the history of the United States,” they have gathered together to perform a “fair share”, dividing up the sales pie to ensure that each company reaped continued profits.

Since in 2016, just two drugs have accounted for alleged price-fixing involving at least 16 companies and 300 drugs.

According to Washington Post, they have now raised their price to more than 3400%, from 13 cents a tablet to more than $4.70. Meantime time “Everyone is paying the price,” Nielsen said. He offered a single word to explain the behavior: “Greed.”

However, due to the various documentation collected is not available for the public, shows the industry to be riddled with price-fixing schemes. Investigators expect to reveal new details in the coming month, in order to put on more pressure for them to consider solutions.

 

 

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