Colorado settles with 2 drug companies for $49 million in antitrust lawsuits

Colorado will settle antitrust claims against two pharmaceutical companies for nearly $50 million as part of ongoing lawsuits that allege some of the country’s largest generic prescription drug producers conspired to raise prices and reduce competition.

Attorney General Phil Weiser announced the $10 million settlement with Heritage Pharmaceuticals and $39.1 million settlement with Apotex on Thursday.

Colorado joined three multistate lawsuits against dozens of companies and executives between 2016 and 2020. The lawsuits claimed manufacturers such as Pfizer and Teva Pharmaceuticals “embarked on one of the most egregious and damaging price-fixing conspiracies in the history of the United States.”

Drugs impacted by the schemes include medication for diabetes, cancer, HIV, epilepsy, multiple sclerosis, ADHD and more, state officials said Thursday.

As part of the settlement, Heritage and Apotex will agree to cooperate in the ongoing lawsuits and institute internal reforms to make sure there’s fair competition.

“This acknowledgment of responsibility by some defendants is a positive first step, but the other defendants must be held accountable for their blatant disregard for the law,” Weiser said in a statement.

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Originally Published: November 2, 2024 at 6:00 AM MDT

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