Judge gives final approval to $93M Lipitor settlement

Lipitor settlement overview: 

• Who: A New Jersey federal judge gave final approval to a $93 million settlement between Lipitor buyers and Pfizer.
• Why: The settlement resolved claims that Pfizer conspired with a drug manufacturer to delay the release of a cheaper generic version of the drug.
• Where: The settlement was approved in a New Jersey federal court.

A New Jersey federal judge granted final approval to a $93 million settlement between Pfizer and a class of Lipitor buyers. 

U.S. District Judge Peter G. Sheridan approved the settlement June 12. 

The settlement resolves claims that Pfizer conspired with another drug manufacturer to delay the release of a cheaper generic version of Lipitor, a cholesterol-lowering prescription medicine, and monopolize the market. 

In litigation that goes back to 2012, the plaintiffs allege Pfizer and Ranbaxy Laboratories Ltd. colluded because Pfizer feared Ranbaxy’s attempt to make a generic version of Lipitor would infringe its patent. 

They say the companies made an anticompetitive agreement to delay the entry of a generic challenger onto the market, according to court documents. Pfizer maintains it hasn’t done anything wrong and does not admit to any liability. 

Settlement benefits drug buyers, pharmaceutical wholesalers, distributors 

The settlement benefits drug buyers Drogueria Betances LLC, Professional Drug Co. Inc., Rochester Drug Co-Operative Inc., Stephen L. LaFrance Holdings Inc. and Value Drug Co., as well as other pharmaceutical wholesalers and distributors that purchased Lipitor or generic products directly from Pfizer or its affiliates between June 2011 and May 2012.

In 2015, Pfizer faced another Lipitor lawsuit by a woman from North Carolina who allegedly developed Type 2 diabetes after taking the medication. 

The woman claimed that as a direct result of using Lipitor, she developed permanent and life-altering injuries.

Are you affected by this Lipitor settlement? Let us know in the comments! 

The plaintiffs are represented by Cohn Lifland Pearlman Herrmann & Knopf LLP, Carella Byrne Cecchi Olstein Brody & Agnello PC, Berger Montague PC, Garwin Gerstein & Fisher LLP, Hagens Berman Sobol Shapiro LLP, Odom & Des Roches LLC, Smith Segura Raphael & Leger LLP, Faruqi & Faruqi LLP and Heim Payne & Chorush LLP. 

The Lipitor class action settlement is In re: Lipitor Antitrust Litigation, Case No. 3:12-cv-02389, in the U.S. District Court for the District of New Jersey.

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