Gilead Sciences, Bristol-Myers Squibb, Gilead Sciences, and Teva Pharmaceuticals were named in a lawsuit filed by New Mexico Attorney General Hector Balderas for violating the state’s Antitrust Act and Unfair Practices Act, reported Bloomberg.
The lawsuit, filed in the First Judicial District Court of New Mexico, stems from the development, marketing, and manufacturing of several antiretroviral medications used in the prevention and treatment of the HIV virus
Lawsuit alleges that the defendants “engaged in coordinated schemes and anticompetitive agreements to suppress the entry of cheaper generic versions of each drug into the market, and to delay the development of safer drugs.
A press release from the attorney general explains that the lawsuit alleges that the defendants engaged in coordinated schemes and anti-competitive agreements in order to repress the entry of cheaper generic versions of each drug into the market and to hinder the development of safer, more effective treatment drugs as a means to maintain a grip on the market for antiretroviral treatment. The lawsuit claims these actions resulted in inflated prices for the lifesaving drugs as well as hundreds of millions of dollars in anticompetitive profits to the defendants.
“Putting profits over the critical needs of New Mexican patients and risking their health and safety is unacceptable,” said Attorney General Balderas in a press release. “My office will hold anyone accountable who takes advantage of or harms our families.”
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