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Home STOCKS U.S. rates generic drug company Glenmark with price-correcting

U.S. rates generic drug company Glenmark with price-correcting


WASHINGTON, June 30 (Reuters) – Glenmark Prescribed drugs Usa was charged on Tuesday with conspiring to repair rates for generic prescription drugs, the U.S. Justice Division stated in a statement.Glenmark allegedly conspired with pharmaceutical maker Apotex Corp and other generic drug companies to improve the prices of cholesterol medicine pravastatin and other generic drugs, the department explained.Glenmark reported it strongly disagreed with the charge. “We will carry on to vigorously defend against these allegations that we know to be false, and we are self-confident the overpowering evidence will make that clear,” the business said in a assertion.The cost was submitted in U.S. District Court docket in Philadelphia.The price-repairing conspiracy allegedly took location from 2013 to 2015 and caused a loss to victims of at minimum $200 million, according to the office.The charge from Apotex was solved in Might by a deferred prosecution arrangement in which the company agreed to spend $24 million.

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