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Heritage Pharmaceuticals to pay $7 million to settle price-fixing allegations

WASHINGTON (Reuters) - Heritage Pharmaceuticals has agreed to pay more than $7 million to settle allegations that it fixed the prices of several medicines, including a key diabetes drug, the Justice Department said.

The company, a subsidiary of India-based Emcure Pharmaceuticals, is accused of working with other generic drug makers to fix prices and rig bids for medicines like glyburide, a diabetes drug.

The company also settled allegations that it paid kickbacks for drugs that were funded by federal healthcare programs, the Justice Department said. The drugs included glyburide, the blood pressure medicine hydralazine and an asthma drug named theophylline, the department said.

Heritage said in a statement that it had revamped its leadership team in the wake of the allegations.

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