Perrigo offices searched by US Justice Department in drug pricing probe

Generics maker Perrigo has reported that its corporate offices were searched by the agents of the US Department of Justice (DOJ) antitrust division as part of an ongoing investigation related to drug pricing in the pharmaceutical industry.

The company did not disclose details about the search, nor specified on which offices the search warrants were executed.

Perrigo’s corporate headquarters is located in Dublin, Ireland, and its North American base of operations is situated in Allegan, Michigan, US.

In a statement, Perrigo said: "As has been previously disclosed by a number of companies, the antitrust division has been looking at industry-wide pricing practices. The company is taking this investigation seriously and is cooperating with the appropriate authorities."

"The company is taking this investigation seriously and is cooperating with the appropriate authorities."

According to a document filed in the court last February, the government is looking at the prices of skin drugs manufactured by Perrigo and other companies, reported Bloomberg.

The antitrust division is also currently investigating multiple pharmaceutical companies over pricing practices, bid rigging and other anti-competitive conducts, reported Genetic Engineering & Biotechnology News.

Some of the companies being investigated include Mylan, Endo International, Lannett and Teva Pharmaceutical Industries.

Commenting on the Perrigo search, RBC Capital Markets analyst Randall Stanicky was quoted by Bloomberg as saying: "This is going to bring the DOJ generic pricing risk back into focus."

Perrigo manufactures over-the-counter healthcare products, supplies infant formulas and produces extended topical prescription drugs.