Generic drug manufacturer Rising Pharmaceuticals Inc. recently entered a Deferred Prosecution Agreement (DPA) to resolve a one-count indictment, announced by the Department of Justice the same day. Rising was charged with conspiring to fix prices and allocate customers for the drug Benazepril HCTZ. In exchange for the DPA, Rising has agreed to pay $1.5 million in restitution and another $1.5 million as a monetary penalty. More importantly, Rising has admitted to fixing prices and allocating customers, and it has agreed to fully cooperate with the DOJ’s investigation into a massive price-fixing scheme involving hundreds of generic drugs and dozens of generic manufacturers. The DOJ revealed that Rising has already provided, and will continue to provide, substantial cooperation in its investigation, including through the disclosure of criminal antitrust violations involving drugs other than Benazepril HCTZ.
Rising’s indictment was the DOJ’s fourth of the ongoing investigation. Heritage Pharmaceuticals Inc. was similarly charged and entered into a DPA earlier this year, while two former Heritage executives have pled guilty. Each is now cooperating with the DOJ’s investigation.
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Faruqi & Faruqi, LLP focuses on complex civil litigation, including securities, antitrust, wage and hour, personal injury and consumer class actions as well as shareholder derivative and merger and transactional litigation. The firm is headquartered in New York, and maintains offices in California, Delaware, Georgia and Pennsylvania.
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About Raymond N. Barto
Raymond N. Barto's practice is focused on antitrust litigation. Ray is an associate in the firm's New York office.Prior to joining F&F, Ray was an associate at a prominent New York City law firm where he represented consumers, shareholders, and employees in class action cases that involved consumer fraud, breach of fiduciary duty, and ERISA.While at Brooklyn Law School, Ray served as an Articles Editor for the Brooklyn Law Review. As well, Ray served as an intern to the Honorable Judge William Pauley III of the United States District Court for the Southern District of New York; the United States Attorney's Office for the Eastern District of New York; the litigation department for Marsh & McLennan Companies; and the Kings County District Attorney's Office.