6/17/19: Public and regulatory attention may be focused on the opioid crisis and the potential liabilities of the pharmaceutical industry, but there are other issues involving the industry at play. Recently, Heritage Pharmaceuticals Inc., a generic pharmaceutical company, admitted to price fixing in violation of US antitrust laws.
In pleading guilty to the criminal charge, Heritage admitted that it had participated in a “… criminal antitrust conspiracy with other companies and individuals engaged in the production and sale of generic pharmaceuticals, a purpose of which was to fix prices, rig bids, and allocate customers for glyburide, a medicine used to treat diabetes.” Heritage agreed to work with the Justice Department on the ongoing investigation into price fixing and bid rigging in the generic pharmaceutical industry.