Drugmakers hiked prices 1k% in price-fixing scheme, states allege

Twenty leading drug companies—including Teva Pharmaceuticals, Pfizer, Novartis, and Mylan—were in cahoots for years to fix and dramatically inflate the prices of more than 100 generic drugs, in some cases to raising prices “well over 1,000 percent,” according to a lawsuit filed late last week by 44 states. In the peak timeframe noted in the lawsuit, Teva raised its prices on about 387 formulations of 112 generic drugs. The lawsuit is the second stemming from the multi-state investigation alleging that the 20 companies and 15 individual drug company executives violated federal and state antitrust laws.

Source: arstechnica.com