News that charges could be filed in a US Justice Department antitrust investigation into generic pharma companies by the end of the year – and could extend to high-level executives – have sent shares prices plummeting.
Companies named in the criminal investigation, including Israel’s Teva Pharmaceutical Industries (NYSE: TEVA), the world’s biggest generics maker, and scandal-hit Mylan (Nasdaq: MYL), fell by 9.5% and 6.9% respectively on Thursday.
Bloomberg revealed that the charges against the generics companies which are being investigated – which number more than a dozen and relate to whether executives colluded on drug price hikes – could emerge within weeks.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
7 day trial access
Become a subscriber
Or £77 per month
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze