Settlement Website: RanbaxyTPPLitigation.com
Objection Deadline: 07/18/2022
Claim Form: https://www.ranbaxytpplitigation.com/Online
Deadline For Submitting Claim: 10/11/2022
Final Hearing Date: 09/08/2022
Settlement Amount: $145 million
Proof Of Purchase: All related transaction data and any other claim documentation like invoices to support your claim if the settlement administrator asks for it later.
Potential Claim Amount: On deducting the attorney’s fees and other expenses, the remainder of the $145 million settlement fund will be distributed among class members submitting valid claim forms. As per the allocation plan, 1.2% will go to the Valcyte classes, 26.2% to the Nexium settlement classes, and 72.6% to the Diovan settlement classes.
Ranbaxy Inc. and Sun Pharmaceutical Industries have agreed to resolve all claims brought against them with a $145 million class-action settlement. Plaintiffs have complained about the companies allegedly fixing the price of generic Nexium (heartburn medication) and generic or branded Valcyte (prescription antiviral medication) and Diovan (prescription blood pressure medication). As per the class-action lawsuit, the defendants have violated both federal and state law with the price-fixing. Ranbaxy, a popular generic drug maker has been charged with wrongfully obtaining tentative approval from the U.S. Food and Drug Administration (FDA) for a series of drug applications including the generic variants of Diovan, Nexium, and Valcyte. This was done by misrepresenting the data integrity analysis results and factory conditions.
Ranbaxy was granted a “180-day exclusivity” status allowing the company to block other generics from getting the approval until its product was plying on the market. This caused the drugs’ prices to be higher than what they would have been otherwise. This class-action settlement will benefit third-party payors who indirectly bought, paid for, and/or reimbursed for some or all of the purchase price of the listed drugs. There are six classes of third-party payors in the Nexium, Diovan, and Valcyte settlement as listed below:
- Generic Nexium Nationwide Class: Those who purchased or paid for some or all of the purchase price of AB-rated generic versions of Nexium in the U.S. and its territories between May 27, 2014, and Feb. 1, 2019
- Generic Nexium State Law Class: Those who purchased or paid for some or all of the purchase price of AB-rated generic versions of Nexium between May 27, 2014, and Feb. 1, 2019, in Arizona, California, the District of Columbia, Florida, Hawaii, Iowa, Massachusetts, Maine, Michigan, Minnesota, Missouri, Nebraska, Nevada, New Hampshire, New Mexico, North Carolina, North Dakota, Oregon, South Dakota, Vermont, West Virginia, and Wisconsin
- Brand or Generic Diovan Nationwide Class: Those who purchased or paid for some or all of the purchase price of Diovan and/or AB-rated generic versions in the U.S. or its territories between Sept. 28, 2012, and April 1, 2020
- Brand or Generic Diovan State Law Class: Those who purchased or paid for some or all of the purchase price of Diovan or AB-rated generic versions from Sept. 28, 2012, through April 1, 2020, in Arizona, California, the District of Columbia, Florida, Hawaii, Iowa, Massachusetts, Maine, Michigan, Minnesota, Missouri, Nebraska, Nevada, New Hampshire, New Mexico, North Carolina, North Dakota, Oregon, South Dakota, Vermont, West Virginia, and Wisconsin
- Brand or Generic Valcyte Nationwide Class: Those who purchased or paid for some or all of the purchase price of Valcyte or AB-rated generic versions of Valcyte from Aug. 1, 2014, through April 1, 2020, in the U.S. or its territories
- Brand or Generic Valcyte State Law Class: Those who purchased or paid for some or all of the purchase price of AB-rated generic versions of Valcyte from Aug. 1, 2014, through April 1, 2020, in Arizona, California, the District of Columbia, Florida, Hawaii, Iowa, Massachusetts, Maine, Michigan, Minnesota, Missouri, Nebraska, Nevada, New Hampshire, New Mexico, North Carolina, North Dakota, Oregon, South Dakota, Vermont, West Virginia, and Wisconsin
These classes do not comprise any natural person consumers, counties with self-funded prescription plans, defendants or their officers, and others.