Lawyers who secured a US$750 million settlement for purchasers of Allergan’s Alzheimer’s drug in an antitrust lawsuit will receive US$69 million in fees, a federal judge has ruled, calling the US$157 million they had requested “unseemly and unnecessary,”reported Reuters.
The fee award, ordered by Chief Judge Colleen McMahon of the Southern District of New York on Monday, June 15, will be divided among six firms: Garwin Gerstein & Fisher, Berger Montague, Faruqi & Faruqi, Heim Payne & Chorush, Odom & Des Roches and Smith Segura & Raphael.
Allergan is to pay US$750 million to direct and indirect purchasers of its Alzheimer’s disease medication Namenda, resolving a class action suit that alleged the Ireland-domiciled company tried to prevent or delay entry of generic competitors.
The suit was filed after the New York attorney general won a settlement making similar charges.
Full Content: Reuters
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