U.S. prosecutors are pursuing possible penalties of nearly $13 billion to resolve investigations of OxyContin maker Purdue Pharma after uncovering evidence of criminal and civil misconduct stemming from the company’s alleged role in fueling the nation’s opioid crisis, people familiar with the matter said.
Less than a year after Sandoz, the generics arm of Novartis, vowed to fight allegations of being involved in a scheme to manipulate the price of generic drugs along with other drugmakers, the company changed course and agreed to pay a $195 million penalty to the U.S. government.
An Oklahoma judge ordered Johnson & Johnson to pay $572.1 million to the state for the company’s part in fueling an opioid epidemic by deceptively marketing addictive painkillers, a sum substantially less than investors expected, driving up J&J shares.
The Philippines suspended clearance for Sanofi’s dengue vaccine Dengvaxia and fined the French drugmaker.
Pfizer has been slapped with a $107 million fine in Britain for a price increase of its epilepsy drug. The fine was levied by Britain’s Competition and Markets Authority.