Punked

Mylan paid 100 million (plus 8 million in legal fees) to settle a price-fixing case alleging that it  developed a plan to drastically increase prices on two of its generic drugs by cutting off its competitors' supply of the drugs' active ingredients. Mylan accomplished this by entering into long-term profit-sharing agreements with industry suppliers and distributors that gave Mylan the only reliable sources of the active ingredients. The three other defendants -- which apparently were not required to share in the settlement costs -- were New Jersey-based Cambrex Corporation, Italian pharmaceutical ingredient manufacturer Profarmaco S.r.l. (a subsidiary of Cambrex), and New York-based drug distributor Gyma. The settlement was also announced by the Federal Trade Commission (see separate entry).