Lawsuit accuses Gilead of propping up cost of HIV treatments by blocking generic competition
subsidiary Janssen Pharmaceuticals as co-defendants in what the plaintiffs say was a scheme to extend patent protection for their drugs and charge "exorbitant, supracompetitive" prices for the drugs.
The companies are accused of entering into a number of "collusive agreements" that dissuaded Bristol-Myers and Johnson & Johnson from competing with Gilead's HIV treatment. Representatives for Bristol-Myers and Johnson & Johnson did not immediately return request for comment. Combination drugs reduce the total number of medications a person with HIV has to take. The treatment reduces the levels of the HIV virus in the blood, helps reverse damage to the immune system and reduces the risk of AIDS-related illnesses. According to the suit, more than 80% of patients starting an HIV regimen in the United States take one or more of Gilead's combination drugs every day.
Gilead shares were unchanged after market closed Monday. The company did not immediately respond to CNBC's request for comment.
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