SOME Americans could soon receive a direct payment from a generic drug settlement.
The money comes after Sun Pharmaceuticals and Taro Pharmaceuticals had claims against them in a class action lawsuit.
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Details outlined in the lawsuit accused the two manufacturers and their affiliates of working together to raise fixed prices for some generic drugs, according to the top class actions.
The alleged conspiracy to raise costs for medical patients and other customers caused some to pay far more for prescriptions than they would in a competitive market.
Sun Pharmaceuticals and Taro Pharmaceuticals did not admit wrongdoing in the case, but agreed to an $85 million settlement to resolve the antitrust claims and avoid additional legal costs.
The amounts of the contributions were divided unequally between the two companies.
Read more about direct payment
Taro Pharmaceuticals paid the largest share of the pot at $67.643 million.
Sun Pharmaceuticals contributed $117.357 million.
It is unclear exactly how the split was determined.
Affected Americans seeking compensation from the settlement will have to consider a few deadlines and meet at least three criteria to qualify.
ELIGIBILITY
Those eligible for the $85 million pot would have to have purchased specific generic drugs provided by either company within a given period.
That period was noted in the lawsuit as between May 1, 2009 and December 31, 2019.
Only specific eligible drugs were determined to be in the presumed fixed price pool.
A list of qualifying prescriptions is included on the liquidation website.
Also, eligible claimants would not have purchased the generic drugs at Walgreens or CVS.
Those who purchased them from any of the retailers are not part of the class.
SUBMIT A CLAIM
Before affected Americans consider filing, they must ensure that they have proof of purchase of the generic drugs within the allotted period.
Prescription orders or bank statements verifying purchase should be included while filing a claim.
Documents must show the transaction of one or more of the eligible generic drugs listed in the Sun Pharmaceuticals or Taro Pharmaceuticals lawsuit between May 1, 2009 and December 31, 2019.
What is a class action agreement?
Class actions give groups of people, or “classes,” a way to join together in court.
These lawsuits are usually filed by one or a few people who allege that a company or other entity has wronged a large group of people.
When a lawsuit becomes a class action, it extends to all “class members,” or people who may have grievances similar to those who filed the lawsuit.
Companies often settle class actions, offering payments to class members who typically waive their right to pursue legal action by accepting money.
These payment agreements often include statements by the defendant denying wrongdoing. Companies tend to settle class actions to avoid the costs of new litigation.
Pollution, discrimination or false advertising are some examples of what can bring a class action at the door of a company.
Those who have already received a claim form in the mail since clearance may not be asked to include proof of purchase.
Others may be asked to provide more data if none of the companies locate it in their records.
A copy of the claim form can be downloaded here to be sent to a mailing address listed on the settlement website.
TERMS AND PAYMENT
Potential claimants should act quickly and submit their forms by the May 6, 2024 deadline.
The final approval hearing for the class action took place more than a year before March 8, 2023.
The deadlines for exclusion and objection passed earlier on September 23, 2022.
It’s unclear exactly when qualified class members can expect to receive their direct payment from the settlement.
An estimated amount has not yet been determined.
Distributions will vary based on the amount of eligible drug purchases included per applicant.
For more related content, see The US Sun’s coverage of how some Americans could get one-time payments of up to $4,000 from a $20 million settlement.
The US Sun also has the $300 payments to qualified residents in a $1.225 million telemarketing deal.
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