Ara Aprahamian is accused of working with executives at other drug companies to increase prices and allocate customers for several drugs.
A lawsuit was filed last year by dozens of state attorneys general who have been investigating price-fixing in the generic industry for several years, and Mr. Aprahamian is the third drug company official to be charged since the investigation began.
The scheme involved generic companies agreeing to divide the market rather than competing to lower prices.
Taro, owned by Sun Pharmaceuticals, told STAT it was aware of the indictment but declined to comment.
Read the full article here.
More articles on pharmacy:
Walgreens pays $7.5M to resolve claims an employee impersonated a pharmacist
SwedishAmerican opens ScriptCenter, a self-serve pharmacy kiosk
Walgreens CEO talks strategy, skips buyout speculation at annual meeting
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.