44 states suing big pharma as they raise generic pricing over 1000 percent

Mar 2012
55,433
36,950
New Hampshire
#1
Soaring drug prices from both branded and generic manufacturers have sparked outrage and investigations in the United States. The criticism has come from across the political spectrum, from President Donald Trump, a Republican, to progressive Democrats including U.S. Senator Elizabeth Warren, who is running for president.

The 20 drug companies engaged in illegal conspiracies to divide up the market for drugs to avoid competing and, in some cases, conspired to either prevent prices from dropping or to raise them, according to the complaint by 44 U.S. states, filed on Friday in the U.S. District Court in Connecticut.

The situation worsened in 2012, the complaint said.

“Apparently unsatisfied with the status quo of ‘fair share’ and the mere avoidance of price erosion, Teva and its co-conspirators embarked on one of the most egregious and damaging price-fixing conspiracies in the history of the United States,” the complaint said. The drugs included everything from tablets and capsules to creams and ointments to treat conditions including diabetes, high cholesterol, high blood pressure, cancer, epilepsy and more, they said. In some instances, the coordinated price increases were more than 1,000 percent, the lawsuit said.

Drugmakers allegedly inflated prices over 1,000% and 44 states are now suing
 
Mar 2012
55,433
36,950
New Hampshire
#3
Yeah my high blood pressure medication just jumped from 10 dollars to 40.

Complete bullshit.
Apparently a lot of them began outsourcing components to Indian manufacturers back in 2010 to lower costs. They closed plants here in the US making ingredients and offshored it. Then instead of lowering costs they upped them. So basically the drug cos. are having lowered costs but charging more. Figures.
 
Likes: Friday13
May 2012
66,947
13,037
By the wall
#4
When I saw the price change I called them right away.

Mind you, I've been on this stuff for almost 10 years now and the price has never changed so I called them and they said it was because they were switching manufacturers.

I raised a stink so they gave me my last 90 day supply at 10 bucks again but that's it.

Next time it will go up to 40.

It's not the actual cost that bothers me, I have plenty of money, it's the fact that they are price gouging me for no reason that pisses me the fuck off.

Its just like college, they know you need to have this book so they feel they can charge you whatever the hell the want because they know you are forced to pay it.

Its not like I can just stop taking my medication either.

At least Trump has been making real moves on the pharmaceutical companies and I really hope he gets to this issue and fixes it.
 
Dec 2015
11,807
7,137
In Your Heart!
#5
Only 44 states are suing? What happened to the other 6? Do they not care enough about their own residents to join in the lawsuits against big pharma? No doubt the voters in those states have well taken notice of that and will see the elected officials at the polls.
 

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