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Indian pharma majors deny allegations of price fixing in US

Press Trust of India  |  New Delhi 

Indian pharma majors Dr Reddy's, Workhardt, Aurobindo and Glenmark, which are among the 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 and 15 other individual defendants against whom the of 49 US states, the Commonwealth of and the had filed a complaint with respect to 116 generic drugs in the for the District of

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.

said, "We intend to vigorously defend against these allegations and are in the process of filing our response with the of "

The company said its US subsidiary is specifically named as a defendant with respect to five generic drugs (Ciprofloxacin HCL tablets, tablets, tablets, Paricalcitol and Tizanidine), for an alleged "overarching conspiracy".

It further said,"Currently, we do not foresee any material impact to our operations and consolidated results with respect to this matter."

in a regulatory filing said that its subsidiary has been named in the second lawsuit filed by the states. "The allegations made in these lawsuits are without merit and our concerned subsidiaries will continue to vigorously defend against them," the company said in its clarification to stock exchanges over a article.

has not been named in these litigations, the drug clarified.

also said anti-trust action relates to price hike of various generic drugs. The company has denied such accusation at appropriate Forum and is vigorously defending against the matter.

Similarly, said in December 2016 a similar was filed and the latest one includes some of the parties from the first one as well as additional parties with allegations of fixing prices of additional products which were not referenced in the first

"While the company is currently reviewing the second suit, we expect to file papers with the in due course denying the accusations. Given the early nature of the matter, the company does not anticipate material impact of the same," added.

also said it is currently reviewing the second anti-trust

"We expect that we will be filing papers with the in due course denying each of the relevant accusations. Aurobindo does not, at this time, anticipate that these matters will have a material impact on the Company's operations or business results," it added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, May 14 2019. 21:31 IST