Generic Drugmakers are the biggest corporate cartel in history

❝ Twenty of the biggest generic prescription drug makers are accused of committing a multi-billion-dollar fraud in the U.S. Forty-three states and Puerto Rico filed a complaint Friday alleging the companies coordinated to inflate prices and reduce competition on more than 100 generic prescription drugs.

❝ “It’s what we believe to be the biggest corporate cartel in history and probably the biggest antitrust price-fixing case in this country, certainly right now and maybe in our nation’s history,” Connecticut Attorney General William Tong said Monday on “CBS This Morning.”…

❝ “What’s really troubling is it’s clear that they’re just going to break the law as long as they can afford to do so. You know, these are extraordinarily powerful forces that got away with price increases as high as 1,000%, 2,000%. Last night on ’60 Minutes,’ they reported that a drug that I take, doxycycline, saw a price increase of 8,000%. And they’ve gotten away with it for such a long time and that’s why it took more than 40 states coming together and taking them on, on behalf of the people of this country.”

Overdue!

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