Manar supports suing drug companies for price gauging

http://bit.ly/2HqUxxW

SPRINGFIELD – State Senator Andy Manar (D-Bunker Hill) commended Illinois Attorney General Kwame Raoul’s decision this week to join a 44-state coalition suing the some of the nation’s largest drug manufacturers for artificially inflating prices for lifesaving medications

“Pharmaceutical companies have been expanding their profit margins and reducing competition for years at the expense of men and women who need their products to survive,” Manar said. “I’m glad to see that Attorney General Raoul recognizes the dire consequences these artificially high prices can have on Illinoisans and that he’s committing our state to standing up to the prescription drug industry.”

The lawsuit, filed in the U.S. District Court for the District of Connecticut, names 20 pharmaceutical companies and 15 executives who are responsible for manipulating prices and limiting the availability of prescription medications.

The complaint alleges that the drug manufacturers conspired to fix prices for name-brand medications and restrain trade for more than 100 generic drugs. In some cases, coordinated price increases were over 1,000 percent.

“In my district, I’ve seen firsthand the serious financial implications these price increases can have on working families – particularly in rural communities where consumers have limited access to pharmacies,” Manar said. “Now is the time to take these bad actors to task and this lawsuit is a good step toward doing so.”

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May 15, 2019 at 03:29PM

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