Generic companies' shares slide on antitrust investigation news

4 November 2016

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.

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