Hausfeld Announces $55 Million Settlement in Antitrust Class Action Against Celgene
Hausfeld announced today that it has reached a $55 million settlement with Celgene Corporation in a long-running class action, In re Thalomid and Revlimid Antitrust Litigation. The settlement is one of the largest pharmaceutical settlements on behalf of end payors (consumers, insurers, union health and welfare funds, municipalities, and others) in an antitrust case in the last decade.
According to Melinda Coolidge, Partner at Hausfeld, “Cancer patients shouldn’t have to worry about the rising cost of their life-saving medications. We are very pleased to have achieved such a sizable settlement on behalf of those who have shouldered the cost of these drugs.”
Hausfeld brought this class action suit in 2014, alleging that Celgene had monopolized the market for two drugs, Thalomid and Revlimid, which are primarily used to treat multiple myeloma, a cancer that forms in the blood. Throughout the litigation, the end payor plaintiffs asserted that prices for the two drugs were higher than they would have been in a competitive market.
Following the close of discovery and during the pendency of the plaintiffs’ motion to certify the class, the parties agreed to resolve the case. Any person or entity that paid for some or all of the purchase price of Thalomid or Revlimid in California, the District of Columbia, Florida, Kansas, Maine, Massachusetts, Michigan, Nebraska, New York, North Carolina, Oregon, Pennsylvania, Rhode Island, or Tennessee, for use by themselves, their families, or their members, employees, insureds, participants, or beneficiaries, will be invited to file a claim to participate in the settlement.
Hausfeld attorneys working on this case include Melinda Coolidge, Walter Kelley, Brent Landau, Katie Beran, and Tamara Freilich. The other lead counsel in the case were Block & Leviton LLP, and Hach, Rose, Schirripa & Cheverie LLP.
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