WEBVTT - Mylan President, Others Engulfed in Price Fixing Ring (Audio)

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<v Speaker 1>And now it's time for our Bloomberg Law Report. Let's

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<v Speaker 1>get to the legal stories we're watching this morning with

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<v Speaker 1>Adrian Mitchell and the Bloomberg One Washington news Room. Senate

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<v Speaker 1>Republicans want to remove the fate of the Dreamers, undocumented

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<v Speaker 1>immigrants brought to the US illegally as children, from the

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<v Speaker 1>list of potential hurdles in urins bending talks. It would

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<v Speaker 1>be considered as separate legislation. Several of the biggest US companies,

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<v Speaker 1>including Apple and Procter and Gamble, would no longer be

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<v Speaker 1>able to escape taxes on the trillions and overseas profits

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<v Speaker 1>they've accumulated under a tax bill released by House Republicans,

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<v Speaker 1>and to develop new regulations. The FAA is looking for city,

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<v Speaker 1>states and companies that want to test drones. Bloomberg Law

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<v Speaker 1>everything you need, all on one legal research platform, including

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<v Speaker 1>guidance analysis and Bloomberg Market Intelligence. Find out more at

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<v Speaker 1>Bloomberg Law dot com. Now, in other legal news, let's

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<v Speaker 1>take a look at a multi year investigation by dozens

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<v Speaker 1>of state attorneys general which has revealed a global price

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<v Speaker 1>fixing conspiracy and the generic drug industry reaching all the

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<v Speaker 1>way to the President of Myelon. For more on this story,

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<v Speaker 1>Bloomberg lahou is doing Rosso and Michael Best speak with

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<v Speaker 1>Jennifer Ree, a senior litigation analyst for Bloomberg Intelligence. Jen,

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<v Speaker 1>let's talk about some of the evidence, because it doesn't

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<v Speaker 1>seem like there was a serious attempt to conceal the

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<v Speaker 1>drugmaker's activities. You know, that's right, and on the outside,

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<v Speaker 1>we're a little bit um. It's difficult to understand what

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<v Speaker 1>all this evidence is because it's a very long complaint.

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<v Speaker 1>There's clearly a lot of evidence, but it's all redacted

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<v Speaker 1>because this comes out of the company's emails, that comes

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<v Speaker 1>out of the you know, transcripts of chat rooms, um

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<v Speaker 1>and of eye texts. And the problem is that, you know,

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<v Speaker 1>we don't really know what it says. But the Attorney

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<v Speaker 1>General has said over and over again, even starting a

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<v Speaker 1>year ago, that what they believe they've seen overwhelming evidence

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<v Speaker 1>of a vast conspiracy and over arching conspiracy, conspiracy as

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<v Speaker 1>well as specific conspiracies among certain companies that had certain drugs. Jen,

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<v Speaker 1>why would they feel the need to go individually after

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<v Speaker 1>the executives of the companies rather than just suing the

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<v Speaker 1>companies themselves. You know, I think it's a it's a

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<v Speaker 1>it's a good question because they don't they don't necessarily

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<v Speaker 1>necessarily have to do that. What they said here was

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<v Speaker 1>that they believe this is a massive conspiracy. They believe

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<v Speaker 1>that it is fairly blatant, and they want to hold

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<v Speaker 1>people responsible. So some of this could be just purely

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<v Speaker 1>on principle, holding these executives responsible, but it also could

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<v Speaker 1>be to put pressure on others perhaps to come in,

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<v Speaker 1>you know, agree to cooperate. Well, Jen, you got forty

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<v Speaker 1>five states. Are what kind of relief is it that

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<v Speaker 1>they're going to want to see across all these companies.

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<v Speaker 1>What they're seeking here is disgorgement of ill gotten gains.

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<v Speaker 1>So they're looking at what these companies, um, how they

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<v Speaker 1>profited given the the art officially increased prices, and they're looking,

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<v Speaker 1>you know, they're going to be protecting consumers in their

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<v Speaker 1>own state as well as trying to get reimbursement for

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<v Speaker 1>state governmental agencies um where those agencies might have overpaid

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<v Speaker 1>for drugs. Remember that this is just one piece though,

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<v Speaker 1>of sort of a triple threat against these companies, because

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<v Speaker 1>they're also facing private class actions as well as the

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<v Speaker 1>Department of Justice investigation. So they may be fined as

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<v Speaker 1>well as penalized if they end up with a judgment

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<v Speaker 1>in the private actions or settle the private actions. That's

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<v Speaker 1>Jennifer Ree, a senior litigation analyst for Bloomberg Intelligence, speaking

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<v Speaker 1>with Bloomberg's Doom Grosso and Michael Best. You can listen

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<v Speaker 1>to Bloomberg Law weekdays at one pm Wall Street Time

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<v Speaker 1>here on Bloomberg Radio, and find more illegal news at

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<v Speaker 1>Bloomberg Law dot com. Attorney so find exceptional legal research

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