Tuesday, May 14, 2019

Generic Drugmakers Allegedly Inflated Prices Over 1,000% - 44% States Now Sue

60 Minutes blew the lid off of this unbelievable story here on Sunday night. 
It might be the biggest price-fixing scheme in U.S. history. On Friday, Connecticut and a coalition of more than 40 states filed a 500-page lawsuit accusing the biggest generic drug makers of a massive, systematic conspiracy to bilk consumers out of billions of dollars. It's a more sweeping version of a similar lawsuit the states filed in 2016 that's still being litigated. The generic industry vehemently denies the allegations.
On Tuesday morning I went on the Armstrong and Getty show to explain what governmental changes created the environment where such an absurd ripoff could occur. 

 
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