Indian Pharma Majors, Including Dr Reddy's & Glenmark, Deny Allegations of Price Fixing in US
The homegrown drugmakers are among the 21 generic pharmaceutical firms and 15 other individual defendants against whom the Attorneys General of 49 US states, the Commonwealth of Puerto Rico and the District of Columbia had filed a complaint with respect to 116 generic drugs.
Image for representation. (AFP)
New Delhi: Indian pharma majors Dr Reddy's, Wockhardt, Aurobindo and Glenmark, which are among the generic drug makers named in an anti-trust lawsuit in the US, on Tuesday denied allegations of engaging in conspiracy to fix prices.
The homegrown drugmakers are among the 21 generic pharmaceutical firms and 15 other individual defendants against whom the Attorneys General of 49 US states, the Commonwealth of Puerto Rico and the District of Columbia had filed a complaint with respect to 116 generic drugs in the US District Court for the District of Connecticut.
The companies have been accused of violating antitrust laws by fixing prices and allocating customers.
In separate clarifications to stock exchanges, the companies denied the accusations and stated they would defend themselves in the matter.
Dr Reddy's said, "We intend to vigorously defend against these allegations and are in the process of filing our response with the District Court of Connecticut."
The company said its US subsidiary is specifically named as a defendant with respect to five generic drugs (Ciprofloxacin HCL tablets, Glimepiride tablets, Oxaprozin tablets, Paricalcitol and Tizanidine), for an alleged "overarching conspiracy".
It further said, "Currently, we do not foresee any material impact to our operations and consolidated results with respect to this matter."
Sun Pharma in a regulatory filing said that its subsidiary Taro Pharmaceuticals USA Inc has been named in the second lawsuit filed by the states. "The allegations made in these lawsuits are without merit and our concerned subsidiaries will continue to vigorously defend against them," the company said in its clarification to stock exchanges over a news article.
Sun Pharmaceutical Industries Limited has not been named in these litigations, the drug major clarified.
Wockhardt also said anti-trust action relates to price hike of various generic drugs. The company has denied such accusation at appropriate Forum and is vigorously defending against the matter.
Similarly, Glenmark said in December 2016 a similar law suit was filed and the latest one includes some of the parties from the first one as well as additional parties with allegations of fixing prices of additional products which were not referenced in the first law suit.
"While the company is currently reviewing the second suit, we expect to file papers with the Federal Court in due course denying the accusations. Given the early nature of the matter, the company does not anticipate material impact of the same," Glenmark added.
Aurobindo Pharma also said it is currently reviewing the second anti-trust law suit.
"We expect that we will be filing papers with the Federal Court in due course denying each of the relevant accusations. Aurobindo does not, at this time, anticipate that these matters will have a material impact on the Company's operations or business results," it added.
Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.
Recommended For You
- Katrina Kaif and Arjun Kapoor Save a Paparazzi From Getting Hurt; Watch Video
- Hours After Decomposed Body Found at Nagarjuna's Telangana Farmhouse, Police Hint at Case of Suicide
- Area 51 Raid: Here's How Many People Turned Up, and What Really Happened
- OnePlus 7 Pro, OnePlus 7 Get OxygenOS 10 Based on Android 10 Update
- Photos Show How Greta Thunberg's Supporters Grew from Two, to Millions In Just a Year