Oklahoma’s share of the multistate agreement has not yet been disclosed.
OKLAHOMA CITY — Generic drug manufacturer Sandoz Inc. has agreed to pay $400 million to resolve allegations that it participated in schemes to inflate prescription drug prices and restrict competition.
The settlement in principle involves Oklahoma and 42 other states and territories. Sandoz will make the payments over seven years beginning in 2027, according to the company.
Oklahoma’s share has not been announced. The agreement remains subject to final approval by the participating states and territories.
State attorneys general accused Sandoz and other generic drug manufacturers of coordinating prices and dividing markets for numerous medications. The investigation drew on millions of documents, telephone records and testimony from cooperating witnesses.
Sandoz did not admit wrongdoing as part of the settlement.
The approximately $469 million total cited by state officials includes the new $400 million agreement and money paid or committed through earlier settlements with certain states. The settlement also covers allegations involving current and former Sandoz affiliates, including Novartis AG, Sandoz AG and Sandoz Group AG.
Attorney General Gentner Drummond said artificially inflated drug prices ultimately cost consumers and pledged that his office would continue pursuing companies accused of manipulating markets.
Sandoz also agreed to internal reforms intended to strengthen compliance with antitrust laws and promote competition.
The multistate coalition has previously reached settlements totaling approximately $96.5 million with Glenmark, Lannett, Bausch, Apotex and Heritage. Litigation against other generic drug manufacturers continues, with a trial anticipated in 2027.
