Federal lawsuit alleges generic drug makers engaged in price-fixing

The attorneys general of 43 states and Puerto Rico filed a lawsuit late last week alleging that many of the largest generic drug makers conspired to keep the cost of drugs high. The drugs involved in the lawsuit account for billions of dollars, according to investigators, who also allege that generic companies agreed not to compete with each other and to settle instead for a share of the market that would prevent pushing prices down through competition. Generic drug company Teva, which is accused of raising prices of more than 110 drugs, issued a statement denying any wrongdoing and said the company is dedicated to complying with laws and regulations in its quest to deliver medicines to patients.