Pharmaceutical giant charged with price-fixing in generic drug probe

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The Justice Department on Tuesday charged generic drug giant Glenmark Pharmaceuticals with manipulating the prices of drugs sold in the U.S., as part of a broad federal probe of price-fixing in the generics industry.

The company was charged with one count of conspiracy in restraint of trade in a filing in the Eastern District of Pennsylvania. The complaint alleges that Glenmark and other companies raked in $200 million from the illegal scheme.

Glenmark could not immediately be reached for comment. It could face hundreds of millions of dollars in fines, according to a press release from DOJ announcing the charges.