Generic drug maker Glenmark has agreed to a settlement with states worth $29.6 million, according to a Wednesday announcement from the Nevada Attorney General.
The settlement will be split among 47 states, and a $13 million consumer restitution fund will be created. A news release indicated impacted Nevada agencies will get about $41,000.
Glenmark’s settlement resolves allegations that the company engaged in a widespread, long-running conspiracy to artificially inflate and manipulate prices, reduce competition and unreasonably restrain trade involving more than 100 generic prescription drugs.
Many of the medicines are used to treat medical conditions that affect millions, including asthma, high blood pressure, high cholesterol, mental health disorders, cancer, infections, allergies, skin conditions and diabetes.
Glenmark agreed to cooperate in ongoing multistate litigation against 33 corporate defendants and 25 individual executives. The company has also agreed to a series of internal reforms to ensure fair competition.
“These companies preyed on Nevadans who depend on affordable generic drugs to survive and expected never to be held accountable. They were wrong,” Attorney General Ford said. “Companies who conspire and scheme to manipulate prices and restrict fair trade will never be tolerated in Nevada. I encourage all Nevadans to check and see if they are eligible for compensation.”
Nevadans who purchased a generic prescription drug manufactured by either Glenmark, Lannett, Bausch, Apotex or Heritage between May 2009 and December 2019 may be eligible for compensation. To determine eligibility, Nevadans should call 1-866-290-0182 (toll-free); email info@AGGenericDrugs.com; or visit www.AGGenericDrugs.com.