Soaring drug prices from both branded and generic manufacturers have sparked outrage and investigations in the United States. A representative of Teva USA, a unit of Israeli company Teva Pharmaceutical Industries Ltd, said it will fight the lawsuit. The lawsuit seeks damages, civil penalties and actions by the court to restore competition to the generic drug market. "Generic drugs were one of the few 'bargains' in the United States healthcare system," the lawsuit said. As a result of the drug companies' conspiracies, it said, consumers and states paid "substantially inflated and anticompetitive prices for numerous generic pharmaceutical drugs" while the drug companies profited.

Source: Mint May 11, 2019 16:18 UTC