Pharmaceutical Companies Busted for Conspiring to Raise Prices of Generic Drugs
Two pharmaceutical companies (Concordia and Par) have settled charges from the FTC for entering an illegal non-compete agreement. The agreement would reduce competition in the market for a generic ADHD drug, which in turn would increase profits for the companies at the expense of higher prices for consumers. Under the FTC settlement, the two companies are prohibited from entering further agreements to keep prices artificially high. [8/19/15]
