Missouri joins price-fixing lawsuit against generic drug companies

1 year 4 months 2 weeks ago Monday, May 13 2019 May 13, 2019 Monday, May 13, 2019 5:39:00 PM CDT May 13, 2019 in News
By: Ethan Stein, KOMU 8 Reporter
loading

MEXICO - Missouri Attorney General Eric Schmitt announced on Monday the state will join a lawsuit against 20 generic drug makers accused of a price fixing scheme.

The lawsuit claims Teva Pharmaceuticals, Pfizer and 18 other generic drug companies fixed prices for more than 100 different generic drugs by coordinating prices with their competitors.

The attorney general's office said, in some instances, the coordinated price increases were more than 1,000%.

Schmitt's office called the accusations "one of the most damaging and far-reaching price fixing schemes in modern history".

“By joining this lawsuit, we’re sending a clear message to pharmaceutical companies: if you harm any of the 6 million people that call Missouri home, we will pursue action and hold you accountable for your actions," Schmitt said.

Missouri joins 43 other states in the lawsuit, led by Connecticut. The lawsuit also names as defendants 15 individual senior executives from different pharmaceutical corporations.

Teva Pharmaceuticals has a manufacturing plant in Mexico, Missouri. It makes penicillin sephalosporin-based antibiotics, which serve as the active ingredient in generic drugs. 

KOMU 8 News reached out to Teva multiple times but was not able to get through.

The plant manager said the lawsuit will not affect operations there.

Jim Zonek, who lives near the Teva Manufacturing Plant, said increases to drug prices are a balancing act between profit and affordability.  

He said there are some manufactures who are taking advantage of consumers, but there needs to be an incentive for creating the product. 

"I think there are some manufacturers who are gouging them, Zonek said. "They are just looking for a quick way to make money so their raising their prices way to high."

More News

Grid
List
COLUMBIA – Mizzou's football fans are reconciling their team spirit with a global pandemic. The Tigers met Alabama at... More >>
4 hours ago Saturday, September 26 2020 Sep 26, 2020 Saturday, September 26, 2020 7:57:00 PM CDT September 26, 2020 in News
HALLSVILLE – With the 2020 election fast approaching, a few Missouri politicians tried to sell themselves, from a cell. ... More >>
7 hours ago Saturday, September 26 2020 Sep 26, 2020 Saturday, September 26, 2020 4:59:00 PM CDT September 26, 2020 in News
(CNN) -- President Donald Trump on Saturday said he is nominating Amy Coney Barrett , a conservative federal appeals court... More >>
7 hours ago Saturday, September 26 2020 Sep 26, 2020 Saturday, September 26, 2020 4:20:23 PM CDT September 26, 2020 in News
JEFFERSON CITY - Today marked the 20th anniversary of Jefferson City’s Oktoberfest and while there were doubts over whether or... More >>
8 hours ago Saturday, September 26 2020 Sep 26, 2020 Saturday, September 26, 2020 3:09:00 PM CDT September 26, 2020 in News
COLUMBIA - Columbia Public School's Dr. Peter Stiepleman was named 2021 Superintendent of the Year by Missouri Association of School... More >>
9 hours ago Saturday, September 26 2020 Sep 26, 2020 Saturday, September 26, 2020 2:06:00 PM CDT September 26, 2020 in News
As COVID-19 continues to spread, KOMU 8 will continue to update you about impacts in the community. Previous coverage: ... More >>
13 hours ago Saturday, September 26 2020 Sep 26, 2020 Saturday, September 26, 2020 10:09:00 AM CDT September 26, 2020 in News
STE. GENEVIEVE - Blair Oaks' 51 regular season game win streak ended against Valle Catholic on Friday. Blair Oaks fell... More >>
1 day ago Friday, September 25 2020 Sep 25, 2020 Friday, September 25, 2020 8:47:00 PM CDT September 25, 2020 in Friday Night Fever
(CNN) -- Covid-19 vaccinations could start as early as November, Dr. Anthony Fauci, the nation's leading infectious disease expert, said... More >>
1 day ago Friday, September 25 2020 Sep 25, 2020 Friday, September 25, 2020 7:55:00 PM CDT September 25, 2020 in News
COLUMBIA - Columbia’s Goodwill Excel Center Hosted its very first commencement ceremony. The Goodwill Excel Center is a free... More >>
1 day ago Friday, September 25 2020 Sep 25, 2020 Friday, September 25, 2020 7:51:00 PM CDT September 25, 2020 in News
JEFFERSON CITY (AP) — Nine television stations have pulled an ad criticizing Democratic candidate for Missouri governor Nicole Galloway. ... More >>
1 day ago Friday, September 25 2020 Sep 25, 2020 Friday, September 25, 2020 5:47:00 PM CDT September 25, 2020 in News
MID-MISSOURI - Week five of Friday Night Fever is here. Before you head out to your team's game or tune... More >>
1 day ago Friday, September 25 2020 Sep 25, 2020 Friday, September 25, 2020 5:42:00 PM CDT September 25, 2020 in Sports
O'FALLON, Mo. (AP) — A federal appeals court panel is weighing the fate of a sweeping Missouri abortion law, including... More >>
1 day ago Friday, September 25 2020 Sep 25, 2020 Friday, September 25, 2020 5:15:01 PM CDT September 25, 2020 in News
Welcome to Week 5 of Friday Night Fever! Our game of the week features the Eldon Mustangs travelling to Southern... More >>
1 day ago Friday, September 25 2020 Sep 25, 2020 Friday, September 25, 2020 4:55:00 PM CDT September 25, 2020 in Friday Night Fever
Below are scores from high school football games from across mid-Missouri. Check out KOMU 8's liveblog with updates from some... More >>
1 day ago Friday, September 25 2020 Sep 25, 2020 Friday, September 25, 2020 4:54:00 PM CDT September 25, 2020 in Friday Night Fever
ASHLAND - It's Thursday morning. Head football coach Trent Tracy gets to Southern Boone High School to turn on the... More >>
1 day ago Friday, September 25 2020 Sep 25, 2020 Friday, September 25, 2020 4:10:00 PM CDT September 25, 2020 in Friday Night Fever
MOUNT VERNON, Mo. (AP) — Nine people have been indicted by a grand jury in connection with the kidnapping and... More >>
1 day ago Friday, September 25 2020 Sep 25, 2020 Friday, September 25, 2020 4:05:38 PM CDT September 25, 2020 in News
(CNN) -- President Donald Trump intends to choose Amy Coney Barrett to be the new Supreme Court justice, according to... More >>
1 day ago Friday, September 25 2020 Sep 25, 2020 Friday, September 25, 2020 3:16:00 PM CDT September 25, 2020 in News
JEFFERSON CITY - Jefferson City firefighters responded to a structure fire in the 400 block of Marshall Street Friday morning... More >>
1 day ago Friday, September 25 2020 Sep 25, 2020 Friday, September 25, 2020 12:12:00 PM CDT September 25, 2020 in News
Columbia, MO
Broken Clouds 70°
12am 69°
1am 68°
2am 67°
3am 66°