Indian pharma firms face litigation in US
Seven leading Indian pharmaceutical firms including Sun Pharma, Cadila Healthcare and Wockhardt are facing litigation in the US for alleged collusion in price fixing. The lawsuit includes 20 companies, led by Israeli pharma firm Teva Pharmaceutical Industries, which is also the largest generic drug maker in the world. The lawsuit has been filed by 44 US states in a district court in Connecticut.
The firms are being accused of colluding to raise drug prices by up to 1,000%, which impacted prices of 100 drugs for various ailments like HIV, cholesterol, asthma, anti-depressants, etc.