Glenmark Pharmaceuticals to Pay Nearly $29.7M Over Alleged Participation in Generic Drug Price-Fixing Settlement

Glenmark Pharmaceuticals will pay nearly $29.7 million to resolve allegations that it participated in a coordinated scheme to inflate generic drug prices and reduce competition.

The settlement, announced by New York Attorney General Letitia James, is part of ongoing multistate litigation against dozens of pharmaceutical manufacturers accused of fixing prices, allocating customers and rigging bids for more than 100 generic drugs.

Glenmark will pay $25 million plus interest over the next four years, bringing the total payment to $29.668 million. The money will be distributed to consumers affected by the alleged conduct, according to the attorney general’s office.

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