TRENTON, N.J. — New Jersey Attorney General Jennifer Davenport has joined a coalition of 48 states and territories in announcing a $29.6 million settlement with generic drug manufacturer Glenmark to resolve allegations the company participated in a long-running conspiracy to inflate prescription drug prices and suppress competition.
Under the settlement, Glenmark will cooperate with ongoing multistate litigation involving 33 corporate defendants and 25 pharmaceutical executives. The company also agreed to implement internal reforms designed to promote fair competition and compliance with antitrust laws.
“Prescription drug prices are too high—and that’s in no small part because pharmaceutical executives have conspired to raise prices and exploit consumers,” said Attorney General Davenport. “The settlement we’re announcing with Glenmark is the latest step in our efforts to drive down the cost of prescription drugs and hold pharmaceutical companies accountable when they violate the law. Consumers should check online or call the hotline to see if they qualify to get some money back as a result of this price-fixing scheme, which led consumers to pay more than they should have for their medicine.”
New Jersey will receive $232,315.61 as its share of the settlement.
The agreement follows previous multistate settlements with Lannett, Bausch, Apotex and Heritage totaling nearly $67 million.
Consumers who purchased certain generic prescription drugs manufactured by Glenmark, Lannett, Bausch, Apotex or Heritage between May 2009 and December 2019 may be eligible for compensation. Consumers can determine their eligibility by visiting www.AGGenericDrugs.com, calling 1-866-290-0182 or emailing info@AGGenericDrugs.com.
According to the attorney general’s office, the settlement comes as states prepare for the first trial in the broader litigation, which is expected to begin in Hartford, Connecticut, later this year.
The multistate lawsuits allege numerous generic drug manufacturers and executives coordinated to reduce competition and artificially increase prices on dozens of prescription medications. Investigators say the cases are supported by evidence gathered from cooperating witnesses, more than 20 million documents and millions of phone records. The complaints allege executives communicated during industry meetings, dinners, social gatherings and other events to coordinate pricing and market allocation, using terms such as “fair share,” “playing nice in the sandbox” and “responsible competitor” to describe the alleged agreements.
The settlement resolves Glenmark’s role in the litigation but does not conclude the broader multistate antitrust cases, which remain pending against numerous other companies and individuals.
