ST. PAUL, Minn. – The State of Minnesota will share in a $48 million settlement against two manufacturers for inflating and manipulating prices of their generic prescription drugs. Keith Ellison, the state’s attorney general, said that the Minnesota share would be determined later. Attorneys general from 50 states brought the action ganst Heritage Pharmaceuticals and Apotex. Ellison noted that further litigation is pending stll against against 30 corporate defendants and 25 individual executives.
Verbatim
Ellison: “Minnesotans want to know why the cost of prescription drugs keeps going up. Well, look no further than the conspiracy of corporations and executives scheming to reduce competition, raise prices, and line their pockets at your expense.Today’s settlements will return money to the people of Minnesota, and that our cooperation agreements will make it easier to hold the rest of the conspirators accountable.”
Drug pricing
The price for 50 tablets of Heritage Pharmaceuticals’ doxycycline tablets, an antibiotic, soared from $20 to $1,800 in just seven months. The company also produces the diabetes drug glyburide under the brand names Diabeta, Glycron Glynase Pres-Tab, and Micronase. Apotex produces the widely used generic cholesterol medication Lipitor.