Illinois residents who purchased generic drugs could be eligible for a payout – NBC 5 Chicago

Illinois residents who purchased generic drugs could be eligible for a payout  NBC 5 Chicago

Illinois residents who purchased a generic drug between May 2009 and December 2019 could be eligible for payouts. Illinois residents who purchased a generic drug between May 2009 and December 2019 could be eligible for payouts as part of a series of allegations that drug companies conspired to manipulate prices. Illinois Attorney General Kwame Raoul joined 43 other states and territories seeking approval for a $400 million settlement with Sandoz Inc. and Fougera Pharmaceuticals Inc. following allegations "the generic drug manufacturers engaged in widespread, long-running conspiracies to artificially inflate and manipulate prices, reduce competition and unreasonably restrain trade with regard to numerous generic prescription drugs." The settlement, which still needs to be approved by a judge, will bring roughly $469 million in claims as Sandoz "has agreed to meaningful injunctive terms including a series of internal reforms to ensure fair competition and compliance with antitrust laws," Raoul said.

“At a time of skyrocketing costs for Americans, generic drug companies colluded with each other to raise prices on needed medications simply to line their own pockets,” Raoul said in a statement. “I am pleased with today’s settlement with Sandoz and will continue to hold drug manufacturers accountable for their unfair and unlawful practices.” Illinoisans who purchased a generic prescription drug between May 2009 and December 2019 could be eligible for compensation.