Generic drug stocks slammed by report of expanded price-fixing probe [MarketWatch]
Kroger Company (The) (KR)
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Source: MarketWatch
Generic drug stocks slammed by report of expanded price-fixing probe Shares of generic drug makers fell sharply Monday, after a Washington Post report that an antitrust lawsuit brought by states over two drugs in 2016 has expanded into a major probe of alleged price-fixing across the industry. The case now involves at least 16 companies and 300 drugs, the report said, citing Joseph Nielsen, an assistant attorney general and antitrust investigator in Connecticut, who has been a leader in the probe. “This is most likely the largest cartel in the history of the United States,” Nielsen told the paper, describing the number of people and companies involved, as well as the volume of drugs affected by the schemes. Executives at more than a dozen companies allegedly conducted business over steak dinners, cocktail receptions and on golf courses, using an insider shorthand, the paper reported. The “sandbox” was the word they used to describe the market for generic prescription drugs, where ever
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KR
Earnings
- 3/7/24 - Beat
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Sec Filings
- 4/2/24 - Form 10-K
- 4/1/24 - Form 4
- 4/1/24 - Form 4
- KR's page on the SEC website