Indian drugmakers deny US generic price-fixing allegations
Shares of Indian pharmaceutical companies continued their downward slide on reports that a lawsuit has been filed against Teva Pharmaceuticals Industries (NYSE: TEVA) and other generic companies in the USA, including many Indian drugmakers, by 44 US states.
Though stocks have tumbled after generic drug majors were alleged to have engaged in cartelization, the cost and settlement of the litigation could be a key factor impacting the companies’ bottom lines, reports The Pharma Letter’s India correspondent.
As Indian drug majors increase their stake in the world’s largest drug market, the legal ramifications could result in huge punitive costs, with market estimates suggesting the defendant companies' aggregate liability could exceed $6 billion, the largest previous settlement on record.
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