DOJ’s Investigation of the Generic Industry to Continue
The Department of Justice plans to continue its investigation into anticompetitive activity in the generic drug industry, according to a senior DOJ official.
“We’re not done,” said DOJ Deputy Assistant Attorney General Richard Powers, during remarks at an Antitrust Law Leaders Forum in Miami, Florida.
“Perhaps no investigation better illustrates our prosecutors’ resolve than our ongoing investigation into the generic pharmaceutical industry,” Powers said.
In the most recent action, a former high-ranking executive at Israeli-based drugmaker Taro Pharmaceutical, Ara Aprahamian, was charged with allegedly fixing the prices of numerous generic drugs between 2013 and 2015. If convicted of the conspiracy charges, Aprahamian could face up to 10 years in prison and a fine of at least $1 million.