US 18 pharmaceutical companies charged with price monopoly Trump: simply murder
On October 31, the US 45 states and the District of Columbia prosecutors accused 18 pharmaceutical companies of manipulating drug prices and caring up the market. The prosecution also said that more pharmaceutical companies may become defendants.
The case was filed for the first time in December last year, when the defendant was a six-pharmaceutical company. On October 31, the prosecution requested the court to add 12 pharmaceutical companies and 2 senior executives as defendants. The first batch of indicted pharmaceutical companies include pharmaceutical companies such as Melan, Tewa and Heretic; additional defendants include Sandoz, a subsidiary of Novartis Pharmaceuticals, Parr, a subsidiary of Endo Pharmaceuticals, Sun Pharmaceuticals, Inc., headquartered in India, Rititch's parent company, Amcor Pharmaceuticals India. The indicted executives were Rajan Malik, president of the company, and Satish Mehta, CEO of Amcor.
The prosecution also expanded the list of price-controlled drugs from the first two to 15. These drugs are generic drugs, that is, generic drugs.
"When I first filed a lawsuit, I said that this is just the tip of the iceberg," Connecticut Justice Minister George Jepson said. "We believe that price manipulation is a systemic and universal behavior. There is a collusion in this industry."
According to Jeppesen, the price manipulation is so deep that the above 15 drugs have almost no price competition in the market.
The two drugs initially listed were doxycycline and glibenclamide sustained-release tablets, which are commonly used antibiotics and hypoglycemic agents. Amy Clobcher, a member of the US Senate Judiciary Committee's anti-monopoly team, pointed out that in the eight months since October 2013, the price of 500 tablets of doxycycline in the US market soared from $20 to $1,849. More than 90 times.
The new drugs in the price control list include commonly used hypoglycemic agents, blood pressure lowering drugs, antibiotics, and drugs for treating eye diseases and epilepsy.
The surge in drug prices has provoked public outrage, and US President Donald Trump even accused drug companies of "murder." The US Congress has summoned two drug company executives to accept questions.
The prosecution said that the alleged drug companies not only conspired to manipulate the price, but also secretly divided the market "sphere of influence". Malik and Mehta had directly negotiated on the market share of certain drugs.
In December last year, the US Department of Justice accused the former president of Herititch, Jason Malik, and former chairman Jeffrey Glaser conspired to manipulate the prices of the two drugs and divide the market. In January of this year, the two signed a plea agreement.
Jeppesen said the investigation is not over and more drug companies and executives may be charged. (Xinhua)
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