Pharma company Sandoz named in US price-fixing lawsuit
Sandoz split from Novartis in 2003 and now has annual sales in excess of $10 billion.
Keystone / Martin Ruetschi
The Germany-based subsidiary of Swiss pharmaceutical giant Novartis is one of 20 companies in the United States targeted in a 44-state class action suit for breaching rules on fair competition.
This content was published on
1 minute
SDA-Keystone/ac
The names of the companies were revealed on SundayExternal link by Connecticut Attorney General William Tong. The lawsuit accuses the companies of inflating the prices of more than 100 different drugs.
“Sandoz’s name appears in a court case, which concerns virtually the entire pharmaceutical generics industry,” Novartis told the Swiss news agency AWP. According to the Basel-based parent company, the accusations are unfounded and will be contested vigorously.
The American prosecutor mentioned that “Teva, Sandoz, Mylan, Pfizer and 16 other generic producers” are accused of conspiring among themselves to set prices, allocate markets and distort offers of more than 100 generic products. In some cases, the price of some substances increased more than tenfold. In addition to Sandoz, a former vice president at the company, Armando Kellum, was named as an individual defendant in the case.
“We have hard evidence that shows the generic drug industry perpetrated a multi-billion-dollar fraud on the American people,” said Tong. “We have emails, text messages, telephone records, and former company insiders that we believe will prove a multi-year conspiracy to fix prices and divide market share for huge numbers of generic drugs.
What do you think Switzerland’s Alain Berset can bring to the Council of Europe?
The former interior minister is to become the first Swiss Secretary General of the Council of Europe – which issues should his five-year term focus on?
How is your country dealing with the return of stolen artifacts?
Western nations like Switzerland often have to deal with the process of recovering or returning looted artifacts which have been illegally imported. What’s the situation like in your country?
Majority of young Swiss well-trained, army fitness test reveals
This content was published on
More than half of young Swiss men and women are considered well-trained, with around 80% meeting the federal government's exercise recommendations, according to the Armed Forces 2023 fitness test.
Italian consulate to relocate to ‘Casa d’Italia’ in Zurich
This content was published on
The Italian state is renovating the "Casa d'Italia" in Zurich's Kreis 4 district, with plans to move the Consulate General from its current location on Tödistrasse in District 2 to this historic building.
Swiss companies maintain financial stability amid European struggles
This content was published on
Swiss companies continue to demonstrate financial robustness compared to their European counterparts, although corporate restructuring activities have increased in recent months.
This content was published on
Unknown assailants detonated an ATM in canton Vaud early Sunday morning, causing extensive damage to the building. The perpetrators fled the scene and remain at large.
Kudelski Group to sell Skidata division to Assa Abloy
This content was published on
The Kudelski Group is selling its Skidata division to the Swedish manufacturer of locking and security systems Assa Abloy.
Tragic weekend in Swiss waters: three bodies recovered
This content was published on
Swiss authorities recovered three bodies from local waters over the weekend, with one incident occurring in Zurich and two in Zug.
Lake Parade in Geneva attracts over 100,000 people
This content was published on
The 22nd Lake Parade and the Lake Sensation in Geneva attracted over 100,000 people in summery weather on Saturday. There were no major incidents at either event.
Graubünden storm causes significant economic damage, prompting support measures
This content was published on
The recent storm in Misox, in canton Graubünden, has resulted in severe economic damage, affecting SMEs, tourism, and agricultural land.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.