Health and Science

Justice Dept reportedly may file charges in its generic-drug probe by year-end

Generic drug probe charges to be filed by year end: Report

The Department of Justice may file charges in its generic-drug investigation by the end of the year, Bloomberg reported on Thursday.

The probe examines whether companies colluded on drug pricing, according to Bloomberg. A number of companies including Mylan and Teva Pharmaceuticals have disclosed subpoenas and are cooperating with authorities, Bloomberg reported.

Shares of Mylan, Teva and Endo International plunged after the news, ending the day about 6.9 percent, 9.5 percent and 19.5 percent lower, respectively.

Lawmakers have recently turned their attention to drug pricing practices in the pharmaceutical industry, calling out price hikes at Valeant Pharmaceuticals and Mylan, among others. The key biotech ETF has fallen 27 percent in 2016, as the sector faces renewed criticism on the campaign trail.

Read the full report on Bloomberg.