U.S. states accuse Teva, other drugmakers, of price-fixing -lawsuit

Reuters ^ | 11-05-19 | Diane Bartz, Doina Chiacu

[McQ444]

U.S. states filed a lawsuit accusing Teva Pharmaceuticals USA Inc of orchestrating a sweeping scheme with 19 other drug companies to inflate drug prices - sometimes by more than 1,000% - and stifle competition for generic drugs, state prosecutors said on Saturday. 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.

[BipolarBob]

Been going on for years with Congress blessings.

[faithhopecharity]

corporations are always tempted to do this, which is why we have anti-trust type laws
(but we use some Teva products and they are VERY reasonably-priced, indeed we’ve commented on this fact...they provide a lot of generic, off-patent medicines and so they specialize in these lower-cost products)

[DallasGal]

I just paid $1.44 for a Teva Z pack that my doc prescribed. Cheap. Manufactured in Croatia. Thankfully it worked.

[faithhopecharity]

yes indeed. Our most recent Teva purchase was a tube of medicine with a special ingredient in it (not easily available from another firm). They could have charged $20 or $30 easily, maybe more. It only cost $5.
(It worked really well, too.)

Teva is one company that appears to NOT belong in this price-fixing suit

[ifinnegan]

Bolshevism.

[Guenevere]

TEVA is an Israeli company......I’ve preferred their product for years

[faithhopecharity]

Oh I see. Yes well it’s a really fine medicine !

[Zhang Fei]

[I just paid $1.44 for a Teva Z pack that my doc prescribed. Cheap. Manufactured in Croatia. Thankfully it worked.]

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That’s not an accident. Each generic drug allowed into the US market, whether prescription or non-prescription, is tested for efficacy and safety prior to market entry and randomly tested once in the market, both via random off the shelf pulls as well as plant inspections. The FDA is the one agency that really earns its keep, from the perspective of drug safety.

[DallasGal]

Right. I barely trust the FDA. Invokana pulled because it was contributing to increased amputations of toes and a new warning on a couple newer diabetic drugs for causing genital gangrene. We are guinea pigs.

[upchuck]

Heard a report on the radio yesterday... AIDS/HIV med that performs very well costs $20,000/month. Can be purchased overseas for $6/month. Wowzers.

Drug manufactures have every right to recoup expenses and some profit, but this is ridiculous.

[Zhang Fei]

[Right. I barely trust the FDA. Invokana pulled because it was contributing to increased amputations of toes and a new warning on a couple newer diabetic drugs for causing genital gangrene. We are guinea pigs.]

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New drugs are always gonna be a crapshoot in terms of side effects. But existing drugs for which generics are approved, typically after 2 decades in the market? That’s usually unproblematic.

[Daffynition]

**existing drugs for which generics are approved, typically after 2 decades in the market?**

Genrally, I look to see where the generics are make....usually India, Indonesia, China. We are doomed and trapped. :(

[Zhang Fei]

[Genrally, I look to see where the generics are make....usually India, Indonesia, China. We are doomed and trapped. :(]

---

While there are issues, the FDA is watching:
https://asia.nikkei.com/Business/Companies/FDA-again-faults-India-s-Lupin
https://www.bloomberg.com/news/features/2019-01-30/chinese-heart-drug-valsartan-recall-shows-fda-inspection-limits

[okie 54]

One can purchase the same pharmaceuticals in most any country other than the USA for 10% of what they pay in the USA. The only difference is the packaging is in the respective countries language.

[DallasGal]

Unfortunately those are not the side effects that were ever mentioned when the FDA approved them. Not saying the FDA doesn’t serve some purpose. As for generics, I can tell you a tale of friends and family who were on name brand thyroid meds, got move to the generic version and the results were quite different. Anecdotal evidence of course. Food for thought, we now have our drug manufacturing done in countries like India, what’s to stop it from going to China? What’s going to prevent a communist regime from dabbling in death of a nation by tainting meds. We know they have tainted the food supply.

[gogeo]

Drug manufactures have every right to recoup expenses and some profit, but this is ridiculous.

Okay...

--What's the development cost? Cost of manufacture and marketing? Liability cost?

[upchuck]

What's the development cost? Cost of manufacture and marketing? Liability cost?

All these items would be considered expenses which was covered in my OP. Unless the manufacturer was willing to expose these expenses, doubtful, the answer is 'unknown.'

[servantboy777]

>>Drug manufactures have every right to recoup expenses and some profit, but this is ridiculous.<<

The whole industry from hospitals to insurance companies to doctors to labs and drug manufacturers are full of corruption.

Years ago, we'd take Rx's into Mexico to pharmacies and purchase medications for a fraction of the price here in the states. Penicillin at that time was an “over the counter” drug. Come to the American side, declare at the border...bada bing. Cheaper medications.

Prolly 3 decades ago, I believe it was a 60 minutes piece, old folks struggling to pay for this particular heart medication...like twenty bucks a tablet. Come to find out, these folks found a work around. That same heart medication they could purchase at the feed store. It was also used to treat lambs and the dose was twice what they were prescribed.

Pennies on the dollar...cut in half as well.

Think on this the next time you notice your doctor toddling up to the hospital in his Lamborghini.

[Daffynition]

I don’t trust over gubbmint overseers ... nor do I trust pharmas. Foreign or otherwise.