On October 20, US District Judge John Michael Vazquez approved a US$61.5 million settlement in a class action lawsuit targeting pharmaceutical company Sanofi-Pasteur.
The settlement includes US$20.5 million in legal fees, US$7.2 million in costs, and service awards of US$100,000 each to three medical practices that served as class representatives. All of the roughly 30,000 class members who submit claim forms will share in the portion of the settlement fund that remains after legal fees, costs and service awards are paid.
The lawsuit claimed that Sanofi suppressed competition for its pediatric meningococcal vaccine, Menactra, by charging physicians and hospitals up to 35% more for its product unless they agreed to buy Sanofi’s pediatric vaccines exclusively.
The class action was filed in 2011.
In a company statement from spokeswoman Anna Robinson, Sanofi denied improper actions saying, “Sanofi Pasteur confirms it has entered a settlement agreement with the plaintiff on behalf of all Class Members to fully and finally resolve the parties’ respective claims. In the litigation, Sanofi has vigorously denied and continues vigorously to deny the plaintiffs’ claims and any allegation of wrongdoing. The Settlement Agreement likewise does not involve any admission or finding of wrongdoing. The Settlement Agreement also does not require Sanofi to change its business practices—practices that Sanofi believes are pro-competitive and benefit customers and patients by providing substantial discounts, reducing prices, increasing immunizations, and protecting against disease.”
Full Content: New Jersey Law Journal
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
