1. US Department of Justice summons Taro over generic drugs pricing

US Department of Justice summons Taro over generic drugs pricing

US Department of Justice has sent summons to Sun Pharmaceutical Industries' US arm Taro Pharmaceutical Industries Inc and its two senior executives seeking information on generic drug pricing.

By: | New Delhi | Published: September 13, 2016 4:37 PM
drugs “Taro intends to respond to the subpoena and otherwise cooperate with the Department of Justice investigation,” the filing said. (Reuters)

US Department of Justice has sent summons to Sun Pharmaceutical Industries’ US arm Taro Pharmaceutical Industries Inc and its two senior executives seeking information on generic drug pricing.

Taro Pharmaceuticals USA Inc as well as two senior officers in its commercial team, received grand jury subpoenas from the United States Department of Justice, Antitrust Division, Taro Pharmaceutical Industries said in a filing last week with the US Securities and Exchange Commission.

Subpoenas are for seeking documents relating to corporate and employee records, generic pharmaceutical products and pricing, communications with competitors and others regarding the sale of generic pharmaceutical products, and certain other related matters, it added.

“Taro intends to respond to the subpoena and otherwise cooperate with the Department of Justice investigation,” the filing said.

Taro develops proprietary and off-patent pharmaceuticals for markets in the US, Canada, Israel and other countries around the world.

The company produces a wide range of prescription and over-the counter products including tablets, capsules, suspensions, solutions, creams, and ointments.

Sun Pharma had acquired a controlling stake in Taro Pharmaceutical Industries in 2010.

The Department of Justice summons have come at a time when many drug firms in US are already facing heat over the high prices.

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