Generic price-fixing on a massive scale

Many of the top drug makers have covertly been in cahoots, inflating the cost of more than 100 generic medications by as much as 1,000% — or so says a lawsuit filed Friday by nearly every state in the country. Novartis, Pfizer, Teva, and Mylan are among the companies accused of price-fixing.

The bulk of the collusion occurred between July 2013 and January 2015, the complaint alleges, taking place largely during parties, golf weekends, industry dinners and the like in order to minimize a paper trail. 

“When communications were reduced to writing or text messages, defendants often took overt and calculated steps to destroy evidence of those communications,” the lawsuit contends.

The companies were looking to maintain their “fair share” of the generic drug market, while also managing to “significantly raise the prices on as many drugs as possible,” the suit says. Companies including Pfizer and Teva have vehemently denied the allegations.