E-drug: FTC charges Myland with Restrain of Trade, Conspiracy and Monopolization
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[copied from PHARM-POLICY]
http://www.ftc.gov/opa/1998/9812/mylanpv.htm
For Release: December 21, 1998
Mylan, Nation's Second Largest Generic Drug Maker, Charged with
Restraint of Trade, Conspiracy & Monopolization Illegal Conduct Resulted
in Price Increases of up to 3000 Percent for Two Anti-anxiety Drugs, FTC
Alleges; Agency to Seek $120 Million in Consumer Refunds Mylan
Laboratories, Inc., the nation's second largest generic drug
manufacturer, and three other companies, were charged today by the
Federal Trade Commission with restraint of trade, monopolization and
conspiracy to monopolize the markets for two widely-prescribed
anti-anxiety drugs, lorazepam and clorazepate. The illegal activity
allowed Mylan to dramatically increase the price of the two drugs used
by millions of Americans, the Commission alleged. In January of this
year, the company raised the wholesale price of clorazepate from $11.36
to approximately $377.00 per bottle of 500 tablets. And, in March, the
wholesale price of lorazepam went from $7.30 for a bottle of 500 tablets
to approximately $190.00. The FTC's complaint, which will be filed in
U.S. District Court, seeks at least $120 million from Mylan and the
other defendants -- an estimate of the ill-gotten gains resulting from
the illegal conduct. Where possible, the agency said, it would restore
to consumers the monetary harm they have suffered. Attorneys General
from 10 states announced that they intend to file a similar complaint
seeking damages and other relief.
[snip]
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James Love, Consumer Project on Technology
P.O. Box 19367, Washington, DC 20036
202.387.8030; f 202.234.5176
http://www.cptech.org, mailto:love@cptech.org
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