Over 40 American states have initiated cases in Courts against pharmaceutical companies which allegedly agreed among themselves to raise medicines prices.
Authorities are accusing 20 companies which produce medicines of collusion between 2013 and 2015 to raise prices of over 100 medicines, including those for diabetes and cancer.
These companies include Teva Pharmaceuticals, which is the world’s biggest producer of generic medicine. The company denies the accusations.
The allegations emerged following a five-year investigation with the Attorney General saying they have proof that the generic medicine industry defrauded consumers of billions of dollars.