Top domestic pharma companies in US probe for price-fixing

The charges, if proven, may incur huge litigation and financial burden on the companies, experts sid. Others mentioned in the complaint include Mumbai-based companies Wockhardt and Glenmark. The fresh lawsuit, a copy of which is available with TOI, clocks over 500 pages and has been filed on June 10 by over 40 US states. It accuses 26 companies of inflating prices of 80 generic dermatology drugs, with rates spiking by 600% to 2,000% in some cases in 2014 to get a larger market share.

Topical products include any drug that is administered by means of contact, most often with an external body surface, including creams, lotions, gels, ointments and solutions. “Our exposure to dermatology has been less than 5% of the US business and we were relatively late entrants. Apart from this, we can’t comment on a matter that is subject to litigation,” a Lupin spokesperson said. Emails sent to other companies did not elicit a response till the time of going to press.

The development led to a fall in Sun Pharma’s stock by 5% to Rs 474, Wockhardt by 4% to Rs 249, and Glenmark by over 4% to Rs 384, Lupin 1% to Rs 919 and Aurobindo also over 1% to Rs 786 the BSE on Thursday.