Federal prosecutors have opened a criminal investigation into whether pharmaceut...
Shares of Amneal, Teva and McKesson fell between 3% and 7%, while AmerisourceBergen and Mallinckrodt were down marginally.A spokesman for the Brooklyn U.S. attorney’s office declined to comment.
The probe is in early stages and prosecutors are expected to send subpoenas to other companies in the coming months, the report said, citing one of the sources.Teva, J&J, Amneal and Mallinckrodt disclosed in recent regulatory filings that they received subpoenas from the U.S. attorney’s office in Brooklyn, which the companies generally described as regarding their anti-diversion policies and procedures and distribution of opioid medications.
The companies said it was part of a broader investigation into manufacturers’ and distributors’ monitoring programs and reporting under the Controlled Substances Act. Teva, Mallinckrodt and J&J also said they had received subpoenas from the New York State Department of Financial Services as part of an industry-wide inquiry into the effect of opioid prescriptions on New York health insurance premiums.
Opioid manufacturers, distributors and pharmacy chains have been defending themselves against thousands of lawsuits by state attorneys general, local governments and class actions accusing them of fueling an addiction crisis.Reporting by Manas Mishra in Bengaluru; Editing by Anil D'Silva and Bill Berkrot
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