Colorado settles $49 million in antitrust lawsuits with two pharmaceutical companies

Colorado will settle antitrust lawsuits against two pharmaceutical companies for nearly $50 million. This is part of ongoing lawsuits alleging that some of the nation's largest generic prescription drug manufacturers conspired to raise prices and restrict competition.

Attorney General Phil Weiser announced the $10 million settlement with Heritage Pharmaceuticals and $39.1 million with Apotex on Thursday.

Colorado joined three federal lawsuits against dozens of companies and executives between 2016 and 2020. The lawsuits alleged that manufacturers including Pfizer and Teva Pharmaceuticals “enacted one of the most egregious and damaging price-fixing agreements in the history of the United States.”

Drugs affected by the regulations include medications for diabetes, cancer, HIV, epilepsy, multiple sclerosis, ADHD and more, state officials said Thursday.

As part of the settlement, Heritage and Apotex will agree to cooperate on ongoing legal proceedings and initiate internal reforms to ensure fair competition.

“This admission of responsibility by some defendants is a positive first step, but the other defendants must be held accountable for their blatant disregard for the law,” Weiser said in a statement.