The New York Attorney General and the U.S. units of Ranbaxy Laboratories(RANB.NS) and Teva Pharmaceutical Industries(TEVA.TA) have settled claims that an agreement between the two drugmakers unlawfully restricted competition. Under the terms of the settlement, the two generic drug makers will end a 2010 agreement of not challenging each other’s rights to sell certain drugs exclusively in the United States. “Agreements between drug manufacturers to protect each other’s market positions violate fundamental principles of antitrust law, and can lead to higher drug prices,” Attorney General Eric Schneiderman said in a statement.
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