New Jersey has joined a multistate lawsuit charging generic drug manufacturers with artificially inflating the prices of more than 100 drugs, from commonly used blood pressure and cholesterol drugs to HIV medication and even chemotherapy drugs.
State Attorney General Gurbir Grewal said that pharmaceutical executives coordinated the conspiracy at trade shows, cocktail parties and golf outings and used coded terms to hide their conduct.
Of the 20 companies accused, 11 are based in New Jersey. Another, Teva Pharmaceuticals, has received a $40 million tax break from the Economic Development Authority to move its U.S. headquarters to the state.
The suit calls the companies’ alleged actions “one of the most egregious and damaging price-fixing conspiracies in the history of the United States.”