MUMBAI Dec 16 Indian drugmaker Aurobindo Pharma
Ltd's shares hit their lowest in more than nine months
on Friday after it was named in a lawsuit alleging it colluded
with other drugmakers to fix prices of two commonly-used drugs
in the United States.
About 44 percent of Aurobindo's sales come from its U.S.
The lawsuit, filed in the U.S. District Court for the
District of Connecticut by 20 U.S. states, also named Heritage
Pharmaceuticals Inc, a company owned by India's Emcure Pharma
Ltd, as a "ring leader" of the price manipulation.
The suit pertained to commonly-used antibiotic doxycycline
hyclate, and glyburide, an older drug used to treat diabetes.
A spokeswoman for Hyderabad-based Aurobindo did not respond
to a request for comment on Friday.
Others named in the suit include the world's largest generic
drugs maker Teva Pharmaceuticals, Mylan NV,
Citron Pharma LLC, and Australia's Mayne Pharma.
The suit comes after months of increasing scrutiny over
generic drug prices in the United States, the world's largest
healthcare market. Drug pricing probes are ongoing at both the
state and federal level in the country.
Two of India's largest drugmakers - Sun Pharmaceutical
Industries Ltd and Dr Reddy's Laboratories Ltd
- have previously disclosed having received subpoenas
under a U.S. Department of Justice investigation into drug price
rises by generic drugmakers.
Shares in Sun Pharma were down 2 percent and those in Dr
Reddy's were trading flat at 0443 GMT in Mumbai on Friday.
(Reporting by Zeba Siddiqui in Mumbai; Editing by Biju