Tennessee Attorney General Herbert H. Slatery III and a bipartisan group of colleagues nationwide are calling on consumers to see if they're eligible for a $39.1 million settlement pie. This agreement, struck with generic drug giant Apotex, aims to make amends for the company's part in an alleged plot to jack up drug prices and stymie competition. This settlement aims to gain a preliminary nod from a federal court, which could mean money back in the wallets of those who paid over the odds for their meds.
The initial settlement had been hanging since last year when AG Skrmetti broke the news alongside a $10 million deal with Heritage Pharmaceuticals. But, with essential signatures now inked by all necessary states and territories, it's ready to be filed formally in the U.S. District Court for the District of Connecticut in Hartford. To actually move forward and formally conclude the deal, it’s pivotally important that all involved states jump on board.
Both Apotex and Heritage are accused of playing a long game—engaging in conspiracies that saw generic drug prices artificially hiked, competition curbed, and trade unreasonably restrained on countless meds. As part of their mea culpa, Apotex and Heritage are set to play ball and cooperate with ongoing multistate lawsuits that have 30 corporate defendants and 25 executives in the hot seat. The companies have vowed to enforce internal changes to play nice in the sandbox of fair competition and antitrust compliance.
The coalition bearing down on this issue is nothing if not broad, with Attorney Generals from every corner of the U.S. joining in today's announcement. From the chilly climes of Alaska to sunny California and the bustling streets of New York to the far-off Northern Mariana Islands, it’s a united front of over forty states that are now stepping up to call out and tackle these alleged shady pricing practices. As Attorney General Skrmetti pointed out, the breadth of this coalition speaks to the nationwide impact and unease such price-fixing conspiracies can induce.
Interested parties can learn more about their potential piece of the settlement and what steps they need to take on the Tennessee Attorney General's official website.
