Aetna Sues Over 20 Drugmakers, Including Pfizer and Novartis, for Alleged Price Fixing; CEO to Pay $100M Settlement

Aetna, a subsidiary of CVS Health, has initiated legal action against over 20 pharmaceutical companies, including Pfizer, Novartis, and Teva, alleging that these firms conspired to fix prices of essential medications. The lawsuit claims that this collusion has resulted in overcharging Aetna, consumers, and the government for generic drugs. Notably, the complaint mentions executives from these companies, including one who previously pleaded guilty to price-fixing in 2020. In a related development, a Medicare Advantage insurer and its CEO have agreed to pay up to $100 million to settle a fraud case.