Oklahoma Attorney General Gentner Drummond announced a $469 million settlement with Sandoz Inc. to resolve allegations the company participated in a long-running scheme to fix prices on generic prescription drugs.
The settlement is part of an ongoing multistate antitrust lawsuit alleging dozens of generic drug manufacturers conspired to artificially inflate prices, reduce competition and allocate markets for numerous prescription medications.
“Drug companies that illegally inflate prices are taking money directly out of the pockets of Oklahomans,” Drummond said. “When companies manipulate the marketplace for their own financial gain, consumers ultimately bear the cost.”
As part of the agreement, Sandoz will implement internal reforms aimed at strengthening compliance with antitrust laws and promoting fair competition. The settlement also resolves allegations involving the company’s current and former international affiliates, including Novartis AG, Sandoz AG and Sandoz Group AG.
The settlement remains subject to final approval by the participating states and territories. The multistate coalition is preparing for trial in 2027 against the remaining defendants.
According to Drummond’s office, the states’ investigation has produced millions of documents, extensive telephone records and testimony from cooperating witnesses.
Including the Sandoz agreement, the coalition has now secured more than $565 million in settlements from companies accused of participating in the alleged price-fixing scheme.
