It might be the biggest price-fixing scheme in U.S. history. On Friday, Connecticut and a coalition of more than 40 states filed a 500-page lawsuit accusing the biggest generic drug makers of a massive, systematic conspiracy to bilk consumers out of billions of dollars. It's a more sweeping version of a similar lawsuit the states filed in 2016 that's still being litigated. The generic industry vehemently denies the allegations.On Tuesday morning I went on the Armstrong and Getty show to explain what governmental changes created the environment where such an absurd ripoff could occur.
More on this story here:
- CNBC: Drugmakers allegedly inflated prices over 1,000% and 44 states are now suing
- Washington Post: States allege generic drug executives deleted texts, obstructed justice in price cartel probe
- USA Today: States: Drugmakers collude on generic price hikes, overcharge consumers and states billions
- Financial Post: Apotex among 20 generic drug firms accused of vast U.S. price-fixing scheme
