Big Pharma Lawsuit: Drug Companies Worked Together To Raise The Price Of Drugs

I bet they do want this "gag order" so nobody finds out what really happened. This is huge and I hope this is public and taken care of.... maybe I can even hope that someone goes to jail?

No, that probably is not going to happen... a few fines, some apologies, maybe some resignations and then they will have to be more careful with their price fixing schemes.

www.shtfplan.com...

Attorneys general for 45 states, plus the District of Columbia and Puerto Rico, are alleging that nearly 20 companies that manufacture generic drugs illegally collaborated with competitors to jack up the prices for those prescription pharmaceuticals and divvy up markets to limit competition, according to a report by Business Insider. More than a dozen of these generic drug manufacturers accused of raising prices on United States consumers in an alleged illegal price-fixing case are asking a federal court in Philadelphia to impose a gag order on investigators.

Investigation of generic ‘cartel’ expands to 300 drugs

www.washingtonpost.com... tory.html?noredirect=on&utm_term=.d83335e024bd

Executives at more than a dozen generic-drug companies had a form of shorthand to describe how they conducted business, insider lingo worked out over steak dinners, cocktail receptions and rounds of golf.

The “sandbox,” according to investigators, was the market for generic prescription drugs, where everyone was expected to play nice.

“Fair share” described dividing up the sales pie to ensure that each company reaped continued profits. “Trashing the market” was used when a competitor ignored these unwritten rules and sold drugs for less than agreed-upon prices.

“This is most likely the largest cartel in the history of the United States,” Nielsen said. He cited the volume of drugs in the schemes, that they took place on American soil and the “total number of companies involved, and individuals.”

The alleged victims were American health-care consumers and taxpayers, who foot the bills for overcharges on common antibiotics, blood-pressure medications, arthritis treatments, anxiety pills and more, authorities say. The costs flowed throughout the system, hitting hospitals, pharmacists and health insurance companies. They hit consumers who lack prescription drug coverage and even those with insurance, because many plans have high deductibles and gaps on prescription drug benefits.

A huge lawsuit accuses nearly 20 big drug companies, a billionaire, and 2 brothers-in-law of cozying up to hike drug prices. Here's the inside story.
www.businessinsider.com...

It's an insurance racket !!

😈💨

originally posted by: xuenchen
It's an insurance racket !!

😈💨

Insurance is a scam, one hundred percent of the time.
An insurance company cannot exist without charging more than they pay out, which by basic math means they're a bad gamble.

Yet here we are in a situation where it's practically mandatory to get even basic health care.

a reply to: infolurker

It’s nice to see this info become more public. But anyone that ever thought we worked for your benefit lives in a bubble......

Just sayin

originally posted by: a325nt

originally posted by: xuenchen
It's an insurance racket !!

😈💨

Insurance is a scam, one hundred percent of the time.
An insurance company cannot exist without charging more than they pay out, which by basic math means they're a bad gamble.

And.....they will do absolutely anything it takes to protect themselves from loss. Which (obviously) means you don't want to be the reason they're (worried about) losing something.

I remembeer when our government would put a business out of business for price fixing like that. It is illegal, unless of course your company donates to political campaigns.

Drug Companies Worked Together To Raise The Price

It sounds crazy, but powerful individuals might get together and have a plan to make more money...

a reply to: Allaroundyou

But anyone that ever thought we worked for your benefit lives in a bubble......

Which is exactly why the strict government control over access and availability of healing products to the people who need them most is unconscionable. There is no virtue in controlling (and denying) the fruits of the earth that we need to nurture and nurse our health and bodies.

You might want to reconsider your smugness... and, of course, how you may contribute to the suffering of your fellow man and woman.

Just sayin'...

It's the same defect that dooms nearly any theoretical economic system. Human greed, corruption, and the ability of any person / group who start to gain an advantage in money / power to exploit that money / power to manipulate the system.

It's why every time there's an issue in a state / country using capitalism, communism, socialism, etc. - there's talk about how it wasn't "pure capitalism / communism / socialism."

originally posted by: rickymouse
I remembeer when our government would put a business out of business for price fixing like that. It is illegal, unless of course your company donates to political campaigns.

The USA needs to strike down blocks to generic drugs and introduce collusion penalties for any drug manufacturer that attempts to fix prices with their competition. You know, letting the free market dictate prices? Instead, we've allowed Big Pharma to hold monopolies for decades with drugs and in some cases jacking the prices up 1000% without any plausible explanation.

The time of drug manufacturers dictating prices to the world is at an end. The prices of drugs should be consumer driven, just like all other goods and services.

There is not publicity or news stories out there on this, nor many other instances which is exactly like the monopolies like it.

originally posted by: jacobe001

originally posted by: rickymouse
I remembeer when our government would put a business out of business for price fixing like that. It is illegal, unless of course your company donates to political campaigns.

The USA needs to strike down blocks to generic drugs and introduce collusion penalties for any drug manufacturer that attempts to fix prices with their competition. You know, letting the free market dictate prices? Instead, we've allowed Big Pharma to hold monopolies for decades with drugs and in some cases jacking the prices up 1000% without any plausible explanation.

The time of drug manufacturers dictating prices to the world is at an end. The prices of drugs should be consumer driven, just like all other goods and services.

The time of drug manufacturers dictating prices is NOT at an end. It is going to get worse for a while yet. Many of the food additives and chemicals made by companies tied to Pharmaceutical companies are creating a need for the meds to help us live a healthy and sane life.

Don't believe that this is going to work itself out or that the organizations our governments have overseeing these meds and chemicals is going to actually do anything about it. The alchemists running many of these chemical companies are out for their best interests and the best interest of their upper group of management. They do not tell much to their stockholders, that would not be in their best interest. Only some of the major stockholders have information given to them that can help avoid them being poisoned by varying chemicals in our diet.

originally posted by: rickymouse
I remembeer when our government would put a business out of business for price fixing like that. It is illegal, unless of course your company donates to political campaigns.

When I was growing up, I was told that racketeering was against the law. Then I grew up and I realized that racketeering was still happening and they were now calling it insurance. Now I'm confused.