AG Tong led a coalition of 43 states and territories announcing a $400 million settlement in principle with Sandoz Inc. to resolve allegations that the generic drug manufacturer engaged in widespread, long-running conspiracies to artificially inflate and manipulate prices, reduce competition, and unreasonably restrain trade with regard to numerous generic prescription drugs. If approved, Sandoz Inc. will pay a total of approximately $469 million to settle the claims brought by state enforcers, including amounts paid pursuant to previous settlements with other states. 

“Sandoz Inc. rigged the generic drug market, forcing customers to pay higher prices for critical medication. The company then fraudulently shielded its assets to evade accountability. This settlement in principle ensures the company takes responsibility for its brazen actions and is a major step as we head to our first trial." -AG Tong