Ex-Heritage Pharma execs settle national price fixing lawsuit: 4 things to know

Two former executives of Eatontown, N.J.-based Heritage Pharmaceuticals reached a settlement with 41 states after pleading guilty to fixing drug prices, reports Reuters.

Here are four things to know.

  1. Jason Malek, former president of Heritage, and Jeffrey Glazer, former chairman and CEO of the drug company, were charged in December for conspiring to fix generic drug prices.

  2. Prosecuters alleged the two executives participated in a scheme to fix prices for the antibiotic doxycycline hyclate and the diabetes medication glyburide, artificially driving up costs for patients.

  3. In January, the two men pled guilty to the federal criminal charges, reports Reuters.

  4. As part of the settlement, Mr. Malek and Mr. Glazer will each pay a $25,000 civil penalty and cooperate with an ongoing state investigation, according to the report.

More articles on supply chain:

Biogen offshoot to acquire rare disease biotech for $400M: 4 things to know
Why FDA's newest approval paves the way for precision medicine
Supply chain tip of the day: How pharmacy can drive revenue for a health system post-merger

Copyright © 2022 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Featured Learning Opportunities

Featured Whitepapers

Featured Webinars