Current:Home > InvestAddiction drug maker will pay more than $102 million fine for stifling competition -StockHorizon
Addiction drug maker will pay more than $102 million fine for stifling competition
View
Date:2025-04-16 14:55:44
The maker of an important addiction treatment medication has agreed to pay $102 million dollars to settle claims it stifled competition. Indivior makes Suboxone, which reduces drug cravings in people with opioid use disorder.
The Virginia-based Indivior introduced Suboxone in 2002 and then, according to state attorneys general, used "monopolistic" strategies to keep generic versions of the opioid-treatment medication off the market.
New York Attorney General Letitia James released a statement saying Indivior "selfishly maneuvered to keep less expensive versions of a life-saving drug out of the hands of millions of Americans" as the opioid crisis grew.
States sued the company in 2016. This settlement with 41 states and the District of Columbia ends that legal fight.
In a statement, Indivior admitted no wrongdoing and said this deal allows the company to focus on patient care.
"We take our role as a responsible steward of medications for addiction and rescue extremely seriously," said Indivior CEO Mark Crossley. "Resolving these legacy matters at the right value allows us to further this mission for patients."
Company officials said they expect to pay the $102.5 million from cash on hand later this month.
veryGood! (67)
Related
- Taylor Swift makes surprise visit to Kansas City children’s hospital
- Man charged with homicide in killing of gymnastics champion Kara Welsh
- New Hampshire Democratic candidates for governor target Republican Kelly Ayotte in final debate
- Report: Connor Stalions becomes interim football coach at a Detroit high school
- What were Tom Selleck's juicy final 'Blue Bloods' words in Reagan family
- A man was charged with killing 81 animals in a three-hour shooting rampage
- Sports betting firm bet365 fined $33K for taking bets after outcomes were known
- Paris Hilton Drops Infinite Icon Merch Collection to Celebrate Her New Album Release
- Tarte Shape Tape Concealer Sells Once Every 4 Seconds: Get 50% Off Before It's Gone
- Watchdogs ask judge to remove from Utah ballots a measure that would boost lawmakers’ power
Ranking
- Could your smelly farts help science?
- Cheeseheads in Brazil: Feeling connected to the Packers as Sao Paulo hosts game
- Michael Keaton recalls his favorite 'Beetlejuice' scenes ahead of new movie
- Stassi Schroeder Shares 3-Year-Old Daughter's Heartbreaking Reaction to Her Self-Harm Scars
- Nevada attorney general revives 2020 fake electors case
- Karen Read speaks out in rare interview with ABC's 20/20: When and where to watch
- Olympian Rebecca Cheptegei’s Father Shares Heartbreaking Plea After Her Death From Gasoline Attack
- Small plane crash-lands and bursts into flames on Los Angeles-area street
Recommendation
Trump wants to turn the clock on daylight saving time
Dolphins, Jalen Ramsey agree to record three-year, $72.3 million extension
Lee Daniels: Working on Fox hit 'Empire' was 'absolutely the worst experience'
Stagecoach 2025 lineup features country chart-toppers Jelly Roll, Luke Combs, Zach Bryan
Sarah J. Maas books explained: How to read 'ACOTAR,' 'Throne of Glass' in order.
Olympian Tara Davis-Woodhall Reacts to Husband Hunter Woodhall's Gold Medal Win at Paris Paralympic Games
It Ends With Us' Brandon Sklenar Reacts to Blake Lively, Justin Baldoni Feud Rumors
15-year-old detained in Georgia for threats about 'finishing the job' after school shooting