Equities

Reuters reveals U.S. states move to expand generic drug price-fixing lawsuit; market reacts

Reuters reveals U.S. states move to expand generic drug price-fixing lawsuit; market reacts

Reuters was first to report that 46 U.S. state attorneys general accused key players in the generic drug industry of a broad price-fixing conspiracy, moving on Tuesday to widen an earlier lawsuit to add many more drugmakers and medicines. Following the Reuters report, shares of generic drugmaker Lannett Co. fell as much as 7 percent, while shares of Endo Pharmaceuticals pared nearly 8 percent off an earlier gain of 12 percent.