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Pharmacy

Specialty drugmaker Insys said Monday that it may be forced to file for Chapter 11 bankruptcy because it can't afford the legal costs related to a U.S. Justice Department probe, and its shares plummeted on the news, according to CNBC.

Novartis and Teva Pharmaceuticals, two of the defendants named in a wide-reaching lawsuit against generic drugmakers, have vowed to fight the allegations of price-fixing brought against them, according to a BioSpace news report.

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Attorneys general from 44 states are suing the nation's largest generic drugmakers, claiming they conspired to inflate prices of more than 100 generic drugs by as much as 1,000 percent, according to The New York Times.

Gilead Sciences has agreed to donate drugs to the federal government that reduce the risk of HIV transmission for up to 200,000 people a year, HHS Secretary Alex Azar announced May 9.  

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