Regarding the Lipitor brand of medication, Pfizer has achieved a settlement with a class action lawsuit that is worth $35 million. According to the allegations made in the class action case, Pfizer and Ranbaxy committed illegal conduct by blocking the sale of generic versions of Lipitor.
Something missing? Search here.
As a result, consumers and third-party payors were forced to pay higher costs for both brand and generic versions of Lipitor. Even though the lawsuit against Ranbaxy is continuing, Pfizer has reached a settlement agreement for $35 million.
Pfizer was accused of unlawfully securing a patent and utilizing it to attack generic producers, which resulted in the delay of generic versions of Lipitor, according to the class action complaint that was filed against Pfizer.
The documents that were disclosed in the filing of the class action lawsuit alleged that Pfizer and Ranbaxy had entered into an unlawful market-allocation agreement. According to the documents, Pfizer paid Ranbaxy to delay entering the U.S. market with its generic Lipitor, which resulted in regular consumers paying more for branded Lipitor and generic atorvastatin calcium.
$35 million Lipitor Atorvastatin Pfizer Antitrust
The pharmaceutical company Pfizer is the manufacturer of the brand-name drug known as Lipitor. Its purpose is to bring down cholesterol levels and to lessen the likelihood of developing heart disease. The medication known as Lipitor is classified as a statin, which is a family of medications that works by lowering the amount of cholesterol that is generated by the liver.
Its generic name, atorvastatin, is most often known. The term “generic Lipitor” or “atorvastatin calcium” is also used to refer to it within the context of this class action case. Other businesses can develop generic copies of brand-name pharmaceuticals after the patents on those drugs expire. These generic versions are often less costly than the brand-name drugs, but they contain the same active ingredient and function in the same manner as the brand-name drug.
$145 Million Kia & Hyundai Anti-Theft
Overview of $35 million Lipitor Atorvastatin Pfizer Antitrust
| Claim Name | $35 million Lipitor Atorvastatin Pfizer Antitrust Consumer Class Action Settlement |
| Payment Method | Online |
| Deadline | November |
| Post Category | Finance |
How can I determine whether or not I am eligible for a payout?
You must be a member of either the Consumer Class or the Third-Party Payor (TPP) Class to be eligible for a payout:
Customers who have bought or paid for branded Lipitor or generic atorvastatin calcium for their own personal or household usage are considered to be members of the consumer class.
Entities who bought, paid for, or provided reimbursement for branded Lipitor or generic atorvastatin calcium medications for their members, employees, insureds, participants, or beneficiaries in certain states between June 28, 2011, and December 31, 2012, are considered to be members of the Third-Party Payor (TPP) Class.
On what basis will I be compensated?
You may be eligible to receive a certain amount of money, which is contingent upon whether you bought branded Lipitor, generic Lipitor, or both, as well as the overall cost of your transactions. Based on these considerations, the settlement money will be dispersed among the participants who are qualified to receive it; nevertheless, the information that has been supplied does not reveal exact payment amounts.
Claim Process
Please follow the procedures below to submit a claim:
1. Fill out the relevant claim form, which includes:
The Consumer Claim Form is the form that is used for making claims on behalf of individual customers.
Claim Form for Third-Party Payors: This form is intended for use by TPP members or their authorized representatives.
2. Give specific information that is required:
Documentation of at least one purchase of Lipitor, as well as the total amount of branded and generic Lipitor that the customer has purchased.
For third-party payers, you will need to provide comprehensive transaction data to back up your claim.
By the deadline of November 29, 2024, you must submit the Claim Form.
• Complete the form and submit it via the settlement website if you are using the online option.
The official Lupitor class action claims administrator should receive the paperwork that has been filled out and signed in the mail.
If you do not submit a valid claim Form by the deadline, there is a possibility that you will not be eligible to receive any monetary compensation from the settlement.
When I file a claim, do I need to provide proof of purchase?
IYoumay be required to submit evidence of at least one purchase. Among the following one or more of the following may be considered acceptable documentation:
- Your records from your pharmacy or insurance company
- An affidavit from your physician or your medical records
- Your health plan or insurer will provide you with an explanation of benefits (EOB).
- In addition, there are records such as receipts, entries in the chequebook, and statements from credit cards.
What is a (TPP) Third-Party Payor?
Third-party payors, sometimes known as TPPs, are organizations that are responsible for purchasing, paying for, or providing reimbursement for prescription medications on behalf of other individuals. In the context of this class action lawsuit, a Third-Party Payor Class member is defined as an entity that,
for consumption by their members, employees, insureds, participants, or beneficiaries, purchased, paid, and provided reimbursement for some or all of the purchase price of branded Lipitor or generic atorvastatin calcium in certain states between June 28, 2011 and December 31, 2012, between the dates of June 28, 2011 and December 31, 2012.
The following are some examples of third-party payers. However, this list is not exhaustive and may contain other entities as well:
1. Companies that provide health insurance
2. Businesses that are self-insured
3. The finances for the union’s health and wellbeing
4. Benefit schemes for health and welfare protection
Filing Class Action Settlement Claims
If you submit a settlement claim for compensation with any false information, please be aware that your claim form will be denied. By supplying this information and making a declaration under oath asserting that it is true, you are agreeing to do so under the threat of being charged with perjury.
Additionally, you would be causing injury to other individuals who are genuine candidates for the class action settlement. If you are uncertain as to whether or not you are eligible for this class action settlement, please visit the website of the administrator of the class action below.
| Home Page | https://baltimoreoutloud.com/wp/ |
It is important to note that Our website is not a legal firm or a class action administrator; rather, it will only provide information. This article may include affiliate links, which means that we may get a commission or other fees if you purchase via those links. Our website is a participant in the Amazon affiliate advertising program.
Calista Embry is a finance journalist who graduated from Johns Hopkins University. She has a passion for writing and researching the impact of finance on social life.
Something missing? Search here.