Former executive of Taro Pharmaceutical indicted in U.S. for price-fixing

Taro Pharmaceutical Industries

05/02/2020 24:31

WASHINGTON, Feb 4 (Reuters) - A former sales and marketing
executive of Taro Pharmaceutical Industries Ltd  TARO.N , Ara
Aprahamian, has been indicted for price-fixing and bid-rigging,
among other charges.
    The Justice Department said that Aprahamian was indicted on
Tuesday for participating in two conspiracies to fix generic
drug prices between 2013 and 2015. 
    Bob Gage, a lawyer for Aprahamian, said that he looked
forward to his day in court. “We have absolute confidence that
once all the facts are brought to light Mr. Aprahamian will be
proven innocent,” Gage said.
    Aprahamian was previously vice president of sales at Taro,
according to the Connecticut's Office of Attorney General. The
Justice Department did not respond to questions about
Aprahamian's employment. 
    He is also charged with lying to an FBI agent when he denied
that he had spoken to a competitor about pricing.
    The issue of drug pricing has become a hot one amid reports
that some drugs, including some on the markets for decades, have
seen their prices increase sharply. 

 (Reporting by Diane Bartz; Editing by Cynthia Osterman)
 ((Diane.Bartz@thomsonreuters.com; 1 202 898 8313;))