New Hampshire Secures Final Multistate Settlement with Sandoz over Alleged Generic Drug Price-Fixing

Concord, NH - Attorney General John M. Formella announces that New Hampshire has joined a coalition of 43 states and territories in securing a final settlement with Sandoz Inc. and Fougera Pharmaceuticals Inc. resolving allegations that the companies participated in a widespread, long-running conspiracy to artificially inflate prices, limit competition, and restrain trade involving numerous generic prescription drugs. The settlement, previously announced in principle in August, includes significant payments and injunctive relief designed to address the States' allegations and promote compliance with antitrust laws and fair competition. Under this agreement, Sandoz will pay approximately $400 million. Combined with previous settlements involving Sandoz, the total payments to state enforcers will be approximately $469 million. The settlement also resolves allegations that Sandoz's past and present international affiliates participated in the alleged anticompetitive conduct and that certain corporate entities fraudulently transferred assets to avoid liability. As part of the agreement, Sandoz has agreed to a series of internal reforms intended to ensure compliance with antitrust laws and promote fair competition. The settlement must still receive final court approval.

"New Hampshire will continue to hold companies accountable when conduct harms consumers and undermines fair competition," said Attorney General Formella. "Generic medications play an important role in our health care system, and consumers should be able to trust that competition, not unlawful agreements, helps determine the prices they pay. This settlement represents another step in protecting consumers and ensuring a fair marketplace."

Over $170 million from this settlement will be dedicated to a nationwide consumer restitution fund. New Hampshire consumers are encouraged to determine eligibility at AGGenericDrugs.com. New Hampshire is also estimated to receive an additional $556,866.17 from this settlement. The settlement comes as the States continue to pursue a series of antitrust cases involving the generic drug industry. The States' most recent case focuses on 80 topical generic drugs and is scheduled for trial in February 2027. The States allege that those drugs account for billions of dollars in sales in the United States. The multistate investigation and litigation began in 2016 and has involved multiple manufacturers, executives, and generic drugs. The Sandoz settlement follows previous settlements involving Glenmark, Lannett, Bausch, Apotex, and Heritage Pharmaceuticals and its parent company, Emcure, totaling approximately $96.5 million. Consumers who purchased certain generic prescription drugs between May 2009 and December 2019 may be eligible for compensation. Information about eligibility and the claims process is available at AGGenericDrugs.com.

Joining New Hampshire in the settlement with Sandoz include: Alaska, Arizona, California, Colorado, Connecticut, Delaware, District of Columbia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Nebraska, Nevada, New Jersey, New Mexico, New York, North Carolina, North Dakota, Northern Mariana Islands, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Dakota, Tennessee, U.S. Virgin Islands, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming.

The New Hampshire Department of Justice Consumer Protection and Antitrust Bureau investigates unfair, deceptive, or unreasonable practices involving New Hampshire consumers. To file a complaint with the New Hampshire Department of Justice, visit https://www.doj.nh.gov/consumer/complaints.