Welcome

Novartis Unit Accused of ‘Massive Fraud’ in State Lawsuit (2)

June 10, 2020, 7:56 PM

Novartis AG’s Sandoz unit was at the center of a sweeping conspiracy with competitors to raise prices of generic drugs by more than 1,000%, according to the latest U.S. lawsuit by state antitrust enforcers against the industry.

A nationwide group of state attorneys general said in a complaint filed in federal court Wednesday that Sandoz and other drugmakers colluded to artificially inflate prices for more than 80 topical treatments like creams and ointments from 2009 through 2016.

“They are committing a massive fraud on the American people,” Connecticut Attorney General William Tong, who is helping to lead the ...

To read the full article log in.

Learn more about a Bloomberg Law subscription.