LAW & PUBLIC SAFETY

Attorney general files antitrust suit against 20 generic drug companies

New Jersey has joined a multi-state lawsuit charging generic drug manufacturers with artificially inflating the prices of more than a hundred drugs from commonly used blood pressure and cholesterol drugs to HIV medication and even chemotherapy drugs.

State Attorney General Gurbir Grewal says the pharmaceutical executives coordinated the conspiracy at trade shows, cocktail parties and golf outings and used coded terms to hide their conduct.

Of the 20 companies accused, 11 are in New Jersey. A twelfth, Teva Pharmaceuticals, has received a $40 million EDA tax break to move its U.S. headquarters to the state.

The suit calls the companies’ alleged actions “one of the most egregious and damaging price-fixing conspiracies in the history of the United States.”