Mylan’s Viatris No Longer Subject to Justice Department Antitrust Investigation Over Drug Pricing (NASDAQ:VTRS)

Windis (NASDAQ:VTRS) Mylan’s unit is no longer the subject of a Justice Department antitrust investigation into the generic drug industry, the drugmaker said Tuesday.

In 2017, former Mylan CEO Rajiv Malik was named in a civil lawsuit for conspiring to keep high prices of generic drugs.

Dozens of states have charged Malik with actively participating in a price-fixing conspiracy among global generic drug manufacturers in order to artificially inflate drug prices.

The Justice Department’s Civil Division today informed Viatris (VTRS) that it “does not expect to take further action on its request to initiate a civil investigation into the pricing and sale of generic drugs.”

In its position on the matter, Viatris (VTRS) said Mylan thoroughly investigated the allegations and found no evidence of misconduct by Mylan or its employees.

The drug manufacturer’s shares rose by approx. 2% presale on tuesday