OKLAHOMA CITY (KFOR) – On Wednesday, Attorney General Gentner Drummond's office announced a $469 million settlement with Sandoz Inc. regarding allegations of artificially inflating prices and trade restraints involving prescription drugs.

Drummonds office says the settlement is part of an ongoing multistate litigation against dozens of companies for illegal agreements to fix prices on generic drugs.

"Drug companies that illegally inflate prices are taking money directly out of the pockets of Oklahomans," Drummond said. "When companies manipulate the marketplace for their own financial gain, consumers ultimately bear the cost. My office will continue fighting to hold bad actors accountable and protect a fair, competitive marketplace."

The agreement in part requires Sandoz to implement the following: resolving allegations

• Significant internal reforms designed to strengthen compliance with antitrust laws

• Promote fair competition

The settlement, according to Drummond, resolves allegations involving Sandoz's current and former international affiliates.

To date, the coalition that Oklahoma Attorney General Gentner Drummond is a part of has secured approximately $96.5 million in settlements.

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Drummond is joined in securing this settlement in principle by the attorneys general of Alaska, Arizona, California, Colorado, Connecticut, Delaware, the District of Columbia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Northern Mariana Islands, Ohio, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Dakota, Tennessee, U.S. Virgin Islands, Vermont, Virginia, Washington, West Virginia, Wisconsin and Wyoming.

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