Virgin Islands Part of $49.1 Million Settlement in Generic Drug Price-Fixing Case

V.I. Attorney General Gordon C. Rhea on Thursday announced updates in a major multistate litigation against generic drug manufacturers. The Virgin Islands, part of a coalition of 50 states and territories, has reached two settlements totaling $49.1 million with Heritage Pharmaceuticals and Apotex, resolving claims that these companies engaged in widespread conspiracies to manipulate prices and limit competition in the generic drug market. These settlements, filed with the United States District Court for the District of Connecticut, are part of a broader antitrust effort led by the state of Connecticut against 30 corporate defendants and 25 individual executives. Heritage Pharmaceuticals agreed to a $10 million settlement, while Apotex’s $39.1 million settlement is pending completion of required signatures from all participating states and territories. Both companies have pledged to cooperate with ongoing litigation and adopt internal reforms to ensure compliance with antitrust laws...