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Former Heritage Pharma executives settle with states
May 24, 2017 / 6:58 PM / 7 months ago

Former Heritage Pharma executives settle with states

WASHINGTON (Reuters) - Two former executives of Heritage Pharmaceuticals who pleaded guilty to fixing drug prices in January have agreed to settle with 41 states and territories involved in the probe, the Connecticut attorney general’s office said on Wednesday.

Jason Malek, former president of Heritage Pharmaceuticals, and Jeffrey Glazer, former chairman and chief executive of the company, agreed to cooperate in the state probe and each will pay a $25,000 civil penalty, according to a statement from the office of Connecticut Attorney General George Jepsen.

Heritage, which was formed in 2006, is a subsidiary of Emcure Ltd.

The two men pleaded guilty to federal criminal charges in January.

They had been accused of conspiring to fix the prices of an antibiotic, doxycycline hyclate, and to split up the market for glyburide, a diabetes drug.

Glazer and Malek were not immediately reachable, and their attorneys did not respond to a request for comment.

Generic drug pricing became an issue in 2014 because of rising prices for medicines that are often less expensive than branded drugs.

Reporting by Diane Bartz; Editing by Steve Orlofsky

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