Keyword: Taro Pharmaceuticals
Teva and other generic companies have been engaged in settlement talks with federal prosecutors for the last 6 months, Bloomberg reports.
Federal authorities showed up at Perrigo offices with search warrants seeking information for a probe by the Justice Department's Antitrust Division into generic drug prices.
Civil suits against Novartis, Sun Pharma’s Taro, Wockhardt, Actavis, Perrigo and others alleged that they agreed to raise prices on generic skin creams.
Even as public outrage over dramatic price increases on generic drugs is growing, a federal antitrust investigation is heating up. Grand jury subpoenas have been sent to Taro Pharmaceutical Industries and two of its senior execs.
Sun Pharmaceutical Industries has decided to bring the CEO of its Taro unit--Kal Sundaram--back from the U.S. to the head office in India by the end of the year as plans to consolidate manufacturing and other operations ramp up.
Sun Pharmaceutical’s U.S.-based Taro Pharmaceutical Industries helped the Indian drugmaker boost its U.S. sales in its last fiscal year, but the skin care specialist has hit a small manufacturing glitch and is recalling a product that failed to hit some specifications.