Biggest generic drugmaker in world made $100 million to settle price-fixing allegations

LONDON – The world’s biggest maker of generic drugs paid more than $100 million to resolve U.S. investigations into allegations of price-fixing, while also agreeing to aid investigations into competitors, the company disclosed in…

Biggest generic drugmaker in world made $100 million to settle price-fixing allegations

LONDON – The world’s biggest maker of generic drugs paid more than $100 million to resolve U.S. investigations into allegations of price-fixing, while also agreeing to aid investigations into competitors, the company disclosed in a filing Tuesday.

London-based Apotex Ltd. did not admit any wrongdoing, but agreed to “pay $100 million to fund a real or apparent settlement of U.S. antitrust investigations of the company.” It also agreed to cooperate with other investigations and not engage in any conduct that might interfere with those inquiries.

Among those are a criminal antitrust investigation by the U.S. Department of Justice and a civil inquiry by the Federal Trade Commission. The U.S. agency also alleged that Apotex and its subsidiary, Nova Labs, entered into an “unlawful agreement to fix or seek to fix the prices of a series of generic injectable drugs” in 2011 and 2012.

Apotex also issued a statement saying it did not admit “to any illegal conduct or to any wrong doing,” adding: “The company intends to vigorously defend its business in these proceedings.”

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