McKesson Reaches $141 Million Settlement with Shareholders in Generic Price Fixing Lawsuit

McKesson Corp. has indicated it reached a settlement with shareholders to the tune of $141 million in a lawsuit over price fixing claims regarding generic medications. The plaintiffs argued that the company lied when it said that it was raising prices due to supply disruptions, instead doing so for anti-competitive reasons.

According to Jody Godoy, “Regulatory probes into price fixing in the pharmaceutical industry have resulted in federal criminal charges against two companies, more than $450 million in fines and a wave of civil litigation by state and federal regulators. Teva Pharmaceutical Industries Ltd and Glenmark Pharmaceuticals USA, which were charged with price fixing in 2020, have pleaded not guilty.”

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(Source: Reuters, November 3^rd, 2022)