Generic companies' shares slide on antitrust investigation news
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
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
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
More on this story...
Today's issue
Company Spotlight
More Features in Generics
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze