Generic Drug Price Fixing

Here is the summary of the scam our patients are dealing with:

  • Forty-five states and the Department of Justice are claiming that generic-drug prices are fixed and the alleged collusion may have cost U.S. business and consumers more than $1 billion.
  • In their complaint, prosecutors say that when pharmacies asked drugmakers for their lowest price, the manufacturers would rig the bidding process.
  • Through subpoenas, Cole’s team has assembled millions of texts, emails and phone calls between 2012 and 2015. The prosecutors say the records show executives divvying up customers, setting prices and giving the illusion that generic pharmaceuticals were transacted in an open and fair marketplace.

What a bunch of lowlifes.  Two executives have pleaded guilty and are ratting out the others.  Now you know why doxycycline when up 8000% in price.

Per the article, there are lawyers getting ready for some big class-action suits so you know where that will go.  My hunch is that these lawyers will pocket millions and our patients will get an $8 coupon refund or something.  I can’t wait to see the real amount for patients because they are predicting this may settle for $1 to $5 billion! I just pray they don’t get screwed again but only time will tell.

Here are my wants.  I want people to go to jail for this.  And I want these companies to be so scared that prices plummet. The only to do that is to put some executives in jail.

Whose with me?

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  3 comments for “Generic Drug Price Fixing

  1. Ken Dryden
    March 17, 2018 at 9:37 am

    This should be interesting. I had been on a generic blood pressure medicine for a prostate issue for years, then suddenly my co-pay jumped from $10 to $22 for a 90 day supply at a big box pharmacy. When I asked about the discrepancy, I was told it was no longer on their generic list. For the next refill I visited CVS, where it was still generic and just $5 for a 90 day supply, it has since dropped to $4.28. I wonder if a little price fixing could have happened?

  2. Seneca
    March 11, 2018 at 10:08 am

    A little OT, but I can’t understand why the DOJ hasn’t investigated big pharma for price fixing. The most recent example is that of three different SGLT-2 inhibitors being released all priced within 10% of one another. It sure smells like de facto collusion even though there may have been no secret meetings.


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  3. Sir Lance-a-lot
    March 11, 2018 at 8:48 am

    Jail? I want to see them executed with M2s in Shea Stadium, after being chased around in circles a few times naked, by hungry dobermans.

    I’ll have extra peppers on my hot dog, please.


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