Former Heritage Pharmaceuticals CEO Jeffrey Glazer and ex-president Jason Malek were hit yesterday with the 1st criminal charges from a 2-year federal investigation in an ongoing generic drug pricing case. The 2 former executives were charged by federal authorities with price collusion for doxycycline hyclate, a widely used antibiotic, and a diabetes therapy called glyburide from 2013 and 2015.
Other drug makers have reportedly received subpoenas as a part of the U.S. Justice Dept. probe. Bloomberg News reported that Mylan (NSDQ:MYL), Teva Pharmaceuticals (NYSE:TEVA), and Endo International’s Par subsidiary are among the companies being investigated by federal authorities for co-conspirating to fix the market for generic drugs.