An antitrust lawsuit levied by states in 2016 over two drugs has reportedly expanded into a full-blown investigation of alleged price-fixing of generic drugs, the Washington Post reports.
Joseph Nielsen, an assistant attorney general and antitrust investigator, tells the Post the investigation involves at least 16 companies and 300 drugs.
“This is most likely the largest cartel in the history of the United States,” Nielsen said.
One example of coordinated price hikes was the increase on albuterol, a decades-old therapy used to treat asthma symptoms. The price of the drug, which was manufactured by Mylan and Sun, spiked more than 3,400 percent to $4.70 from 13 cents.
“Everyone is paying the price,” Nielsen told the Post, describing the behavior as being rooted in\ “greed.”