Pfizer and Ranbaxy Settle $17M Lipitor Price-Fixing Lawsuit for Delaying Generic Introduction
Deadline
Deadline: No deadline specified
Total Settlement Amount
Total amount allocated for all claims
Individual Payout Range
Estimated amount per eligible claim
Proof of Purchase
No initial proof is required to file a claim. However, the settlement administrator may request proof at a later date. Claimants should be prepared to potentially provide additional evidence of qualifying Lipitor purchases made in the class action period.
Settlement Summary
Pfizer Inc. and Ranbaxy Inc. recently settled a $17 million class action lawsuit, stemming from allegations of anticompetitive practices in connection with the cholesterol-lowering drug Lipitor. The lawsuit, filed under the West Virginia Antitrust Act and the West Virginia Consumer Credit and Protection Act, accused the pharmaceutical companies of colluding to delay the introduction of a generic version of Lipitor into the market. This delay, the lawsuit claimed, artificially inflated the consumer prices of Lipitor. The class action settlement aims to address these allegations and compensate affected West Virginia consumers who purchased Lipitor at these inflated prices between March 24, 2010, and November 30, 2011. In this particular case, the settlement was broken down into Pfizer agreeing to pay $8,750,000 and Ranbaxy agreeing to pay $8,250,000. Eligible class action claimants can receive a pro rata cash payment of up to $599 per claim, with the exact amount depending on the number of valid claims filed.
Entities Involved
Eligibility Requirements
- Must have purchased, paid, and/or provided reimbursement for some or all of the purchase price of branded Lipitor in West Virginia between March 24, 2010, and November 30, 2011.
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