2 ex-pharmaceutical executives charged with price fixing generic drugs

Two former executives of Eatontown, N.J.-based Heritage Pharmaceuticals have been charged with conspiring to fix prices on generic drugs, according to the Department of Justice.

Federal prosecutors allege Jeffrey Glazer, former CEO of Heritage, and Jason Malek, the company's former president, were involved in a scheme to fix prices for doxycycline hyclate, an antibiotic, from April 2013 until at least December 2015. Prosecutors also allege the two executives conspired with other companies to fix prices for glyburide, a medicine used to treat diabetes, from April 2015 through at least the end of 2015. 

"By entering into unlawful agreements to fix prices and allocate customers, these two executives sought to enrich themselves at the expense of sick and vulnerable individuals who rely upon access to generic pharmaceuticals as a more affordable alternative to brand-name medicines," said Deputy Assistant Attorney General Brent Snyder of the DOJ's Antitrust Division.

Mr. Glazer and Mr. Malek are preparing to plead guilty in court on Jan. 9, people with knowledge of the matter told Bloomberg

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