Guam has joined in a lawsuit against several of the country’s largest generic drug manufacturers.
The lawsuit alleges that the companies secretly conspired to artificially inflate and manipulate the prices of over 100 generic medications ranging from antibiotics and anti-inflammatory creams to medication used to treat cancer, diabetes, and epilepsy.
“We’ve all had sick loved ones and know how expensive medication can be,” said Attorney General Leevin Taitano Camacho in a news release. “Generic drugs are supposed to be an affordable alternative, giving people greater access to treatment. These pharmaceutical companies, knowing people were dependent on these medications, took advantage of their vulnerability by illegally conspiring to drive up the prices of these drugs.”
The complaint alleges that price-fixing by these companies increased prices, affecting the health insurance market, taxpayer-funded healthcare programs like Medicare and Medicaid, and individuals who paid artificially inflated prices for their prescription drugs. According to the complaint, in some instances, prices increased more than 1,000%.
The lawsuit, led by Connecticut Attorney General William Tong, has been joined by Attorney General Camacho and 51 attorneys general from across the United States.
Attorney General Camacho is seeking damages and remedies on behalf of Guam consumers. The lawsuit is still in its early stages and the investigative process is still ongoing.