Home World News Colorado settles $49 million in antitrust lawsuits with two pharmaceutical companies

Colorado settles $49 million in antitrust lawsuits with two pharmaceutical companies

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Colorado settles $49 million in antitrust lawsuits with two pharmaceutical companies

Colorado will settle antitrust claims against two pharmaceutical companies for nearly $50 million as part of ongoing lawsuits alleging that some of the nation’s largest makers of generic prescription drugs conspired to raise prices and reduce competition.

Attorney General Phil Weiser announced the $10 million settlement with Heritage Pharmaceuticals and $39.1 million with Apotex on Thursday.

Colorado joined in three lawsuits in multiple states against dozens of companies and executives between 2016 and 2020. The lawsuits alleged that manufacturers such as Pfizer and Teva Pharmaceuticals “engaged in one of the most egregious and damaging price fixing events in United States history.”

Drugs covered by the regulations include drugs for diabetes, cancer, HIV, epilepsy, multiple sclerosis, ADHD and more, state officials said Thursday.

As part of the settlement, Heritage and Apotex will agree to cooperate in the ongoing litigation and implement internal reforms to ensure fair competition.

“This admission of responsibility by some defendants is a positive first step, but the other defendants must be held accountable for their blatant disregard for the law,” Weiser said in a statement.

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