The Department of Justice (DOJ) has indicted a former Taro Pharmaceuticals executive for allegedly conspiring to fix numerous generic drug prices.
The indictment in the U.S. District Court for Eastern Pennsylvania charges Ara Aprahamian with conspiring with competitors to increase prices for “numerous drugs” between 2013 and 2015, during his time as Taro’s vice president of drug marketing and vice president of sales and marketing.
The former executive allegedly conspired with a New Jersey-based drug company and a Pennsylvania-based generic drugmaker, neither of which are named in the indictment.
Aprahamian has also been charged with lying to the FBI, allegedly telling an agent he never spoke with a competitor about the pricing of a product before it launched.
If convicted of conspiracy, Aprahamian could face up to 10 years in prison and at least a $1 million fine. He also faces up to five years in prison and a fine of up to $250,000 if convicted for making a false statement.