Tricor

Summary of Case and Settlement:

In re TricCor Indirect Purchaser Antitrust Litigation (D. Del.).  The firm represents plaintiffs (consumers and third party payors) who paid for the branded cholesterol medicine TriCor® in an antitrust class action against the drug’s manufacturers. Plaintiffs allege that defendants engaged in a “product hopping” scheme whereby the entire market was converted to slightly different versions of the medicine, followed by a complete withdrawal from the market of the previous formulation. This tactic occurred immediately before generic versions of the prior formulation were about to be introduced, thereby precluding cost-saving generic substitution. See Abbott Laboratories v. Teva Pharmaceuticals, Inc., 432 F. Supp. 2d 408 (D. Del. 2006) (denying defendants’ motions to dismiss).

Settlement: On October 28, 2009, the court granted final approval to a $65.7 million settlement.

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