Pfizer wins dismissal from antitrust lawsuit
- Pfizer (NYSE:PFE) was dismissed as a defendant in a U.S. antitrust lawsuit alleging generic drug price-fixing.
- A federal judge ruled states failed to prove Pfizer or its former Greenstone unit conspired with rivals between 2010 and 2014.
- The broader case still involves multiple drugmakers and covers alleged collusion across 80 generic drugs.
Pfizer (NYSE:PFE) has been dismissed from a large U.S. antitrust lawsuit in which multiple states accused drugmakers of fixing prices for generic medications.
U.S. District Judge Michael Shea ruled that the states did not provide sufficient evidence that Pfizer or its former Greenstone unit participated in a conspiracy to rig bids or allocate customers.
The lawsuit alleged coordination among drugmakers on pricing for multiple generic drugs, including treatments for high blood pressure, glaucoma, and acne, between 2010 and 2014.
The judge found no reasonable basis to conclude Pfizer knowingly participated in or authorized any alleged collusive activity involving its former subsidiary Greenstone.
Pfizer said it welcomed the dismissal and continues to defend itself in related ongoing antitrust cases involving other pharmaceutical manufacturers.
