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To say I'm sick would be a gross understatement.
You've probably been stricken, too – you just don't know it.
I'm talking about the pain being inflicted on us all by some egregiously greedy generic drug makers.
Yeah, those generic drug manufacturers, the ones we've been thanking our lucky stars for because we don't have to pay insanely inflated prices for designer, name-branded wonder drugs.
If you haven't heard, 16 generic drug makers have been colluding (allegedly, of course) to jack up prices of what are supposed to be cheap versions of the brand-name drugs we pay through the nose for.
Now it turns out we're paying excessively for the generics we thought we were so lucky to have.
Here are some of the sickening facts. And later, I'll show you something that might help take the edge off…
How Bad Is It, Really?
Just over two years ago, a couple of Attorney General's offices began looking into the pricing of two generic drugs. They'd been getting complaints that price increases seemed random, and that there weren't other so-called generic drugs to offer pharmacy clients or at hospitals.
The investigation was, for the most part, led by the Assistant Attorney General of Connecticut – the very dogged and very effective Joseph Nielsen. The trail of what was going on with two generics led to other states getting involved – 47, at last count – and fingers being pointed at 16 generic drug makers, who are being investigated essentially for collusion to fix prices and divide up selling territories.
Things are about to go from bad to worse for these 16 companies, their executives, and probably additional to-be-named colluders. That's because just last week, a federal judge gave the go-ahead for over 1 million emails and text messages from alleged colluders to be shared by all plaintiffs.
Apparently, these emails tell the story of how executives used "shorthand" messaging, incorporating words like "sandbox," "fair share," and "trashing" to identify where market territories were, what prices to charge, and who wasn't playing the game (referring to competitors).
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Those emails and texts are going to light a fire under a lot more investigations.
About the Author
Shah Gilani is the Event Trading Specialist for Money Map Press. In Zenith Trading Circle Shah reveals the worst companies in the markets - right from his coveted Bankruptcy Almanac - and how readers can trade them over and over again for huge gains.Shah is also the proud founding editor of The Money Zone, where after eight years of development and 11 years of backtesting he has found the edge over stocks, giving his members the opportunity to rake in potential double, triple, or even quadruple-digit profits weekly with just a few quick steps. He also writes our most talked-about publication, Wall Street Insights & Indictments, where he reveals how Wall Street's high-stakes game is really played.