SoftBank wants to push Neumann out of the CEO role ahead of the IPO.Technologyread more
The next three weeks are among the rockiest, on a historical basis, of the entire calendar.Trading Nationread more
Microsoft is looking for a new way to grab business from retailers as they fend off Amazon.Technologyread more
The UK's Civil Aviation Authority said Thomas Cook had now ceased trading and the regulator would work with the government to bring the more than 150,000 British customers...Europe Marketsread more
The holidays are a critical time for many brands, as sales during this time of year can make up 30% of a retailers annual sales. Heading into the gift-giving season, shoppers...Retailread more
An annual survey by Piper Jaffray found iPhone users willing to upgrade to newly released models declined compared to last year.Technologyread more
Banks have historically used armies of mortgage brokers to gather income and asset documents from prospective borrowers.Financeread more
Guggenheim reiterates its buy rating on Boston Beer's stock and raises its price target to $462 from $449 per share.Investingread more
On-demand delivery company Postmates is partnering with Phantom Auto, an autonomous vehicle teleoperator, to coordinate driverless deliveries.Autosread more
Oprah Winfrey is bringing her famed book club to Apple's new streaming subscription service.Technologyread more
Bruce Broussard, CEO of health insurance company Humana, sits down with CNBC's Bertha Coombs to discuss the state of the industry, integrating digital health technology,...Squawk Boxread more
Shares of drugmakers Mylan, which was also named in the lawsuit, were trading 10% lower in afternoon trading.
The states, led Connecticut Attorney General William Tong, claim 20 drug companies, including Teva USA, "systematically" divided up the market for generic drugs to avoid competing with one another, according to a 500-page lawsuit filed late Friday in the U.S. District Court in Connecticut. In some cases, pharmaceutical executives conspired to either prevent prices from dropping or raise them, the lawsuit claimed.
"This is an organized effort to conspire and fix prices — a highly illegal violation of antitrust laws," Tong said.
The lawsuit comes as President Donald Trump and Congress attempt to bring down high prescription drug prices, which accounted for roughly 12% of total health-care spending in the U.S. in 2016. Just last week, the Trump administration announced it would required pharmaceutical companies to disclose the list price of their prescription medicines in television commercials in an effort to "shame" them into lowering consumer costs.
In response to the lawsuit, a spokesperson for Teva said "the allegations in this new complaint, and in the litigation more generally, are just that – allegations."
"Teva continues to review the issue internally and has not engaged in any conduct that would lead to civil or criminal liability," the spokesperson said. "Teva delivers high-quality medicines to patients around the world, and is committed to complying with all applicable laws and regulations in doing so."
The generic drug industry was created by Congress in 1984 in an effort to bring down drug prices by allowing companies to make their own identical version of a drug once a brand-name drug's patent expired.
Israel-based Teva is the world's largest generic drugmaker.
For more on investing in health-care innovation, click here to join CNBC at our Healthy Returns Summit in New York City on May 21.