LyrArc Article Gist
The US Justice Department imposes a $225 million fine on Teva Pharmaceutical and requires it to sell its Pravastatin drug line as part of a deferred prosecution settlement on price fixing charges. The public was overcharged by $350 million according to a 2020 indictment. Collective fines on price fixing charges in the generic rugs industry amount to $680 million reports WSJ. Teva will also have to donate $50 million to needy patients. This is another way the Biden Justice Department is bringing down the cost of living by keeping a close eye on drug costs pushed up by illegal price fixing.
The US Justice Department imposes a $225 million fine on Teva Pharmaceutical and requires it to sell its Pravastatin drug line as part of a deferred prosecution settlement on price fixing charges. The public was overcharged by $350 million according to a 2020 indictment. Collective fines on price fixing charges in the generic rugs industry amount to $680 million reports WSJ. Teva will also have to donate $50 million to needy patients. This is another way the Biden Justice Department is bringing down the cost of living by keeping a close eye on drug costs pushed up by illegal price fixing.
