The US regulatory department is all set to launch criminal report against 14 generic pharmaceuticals for conspiring to set medicine prices.
The US regulatory department, US Department of Justice, had initiated an investigation before two years back for 14 pharmaceuticals involving about dozens of medicines, to find out whether some executives agreed with one another to raise prices, as per bloomberg's report.
Pharma giants like Sun Pharma, Mylan, Teva Pharmaceutical, Actavis, Lannett Co., Impax Laboratories, Covis Pharma, Mayne Pharma, Endo International and Taro Pharmaceuticals etc. are under the regulatory scanner.
Some companies like Mylan, Allergan, Endo and Taro Pharmaceutical, had earlier disclosed that the US Department of Justice had issued subpoenas asking information about product pricing and communications with competitors.
In august 2016, the US government Accountability Office issued a report that more than 300 of 1,441 generic drugs analyzed had at least one price increase of 100 per cent or more between the first quarter of 2010 and the first quarter of 2015.
Also, India's Dr Reddy's Laboratories and USA's Allergan had received subpoenas from regulators asking similar information last year, but they did not disclose the names of the products involved.
