Indian pharma majors deny allegations of price fixing in US

Indian pharma majors Dr Reddy's, Workhardt, Aurobindo and Glenmark, which are among the generic drug makers named in an anti-trust lawsuit in the US, Tuesday denied allegations of engaging in conspiracy to fix prices.

The homegrown drugmakers are among the 21 generic pharmaceutical firms and 15 other individual defendants against whom the Attorneys General of 49 US states, the Commonwealth of Puerto Rico and the District of Columbia had filed a complaint with respect to 116 generic drugs in the US District Court for the District of Connecticut.

The companies have been accused of violating antitrust laws by fixing prices and allocating customers.

In separate clarifications to stock exchanges, the companies denied the accusations and stated they would defend themselves in the matter.

Dr Reddy's said, "We intend to vigorously defend against these allegations and are in the process of filing our response with the District Court of Connecticut."
It further said,"Currently, we do not foresee any material impact to our operations and consolidated results with respect to this matter."