Other companies named in the complaint include Pfizer, Novartis subsidiary Sandoz, Dutch drug maker Mylan, and India-based firms including Lupin Pharmaceuticals, Aurobindo Pharma, Dr. Reddy’s Laboratories and Wockhardt. Teva’s chief financial officer said at a press conference in Jerusalem that it “has not engaged in any conduct that would lead to civil or criminal liability” and that it plans to fight the lawsuit. The complaint also names 15 individual defendants who are current or former drug company executives.
“What’s particularly discouraging here is we rely on generics to control prices,” said Robert Field, professor of law, and health management and policy at Drexel University, who is also a lecturer in Wharton’s health care management department. He noted that the U.S. is the only developed country that doesn’t have government control on drug prices and instead relies on free market competition. “Now we’re seeing that market isn’t functioning.”