$74 Million Settlement Reached Regarding Pricing of Cipro
Consumers and Third-Party Payors Eligible to Receive Money from Class Action Antitrust Settlement with Bayer
SAN DIEGO, Sept. 3, 2013 /PRNewswire-USNewswire/ — The following is being released by the law firms of Lieff Cabraser Heimann & Bernstein, LLP, Zwerling, Schachter & Zwerling, LLP, the Joseph Saveri Law Firm, Inc., and Krause, Kalfayan Benink & Slavens, LLP.
A partial settlement has been reached in a class action lawsuit involving the prescription antibiotic Cipro. The lawsuit claims Bayer Corporation, Barr Laboratories, Inc., Hoechst Marion Roussel, Inc., Watson Pharmaceuticals, Inc., and The Rugby Group, Inc. violated antitrust and consumer protection laws by agreeing not to compete with each other, and by keeping lower-cost generic versions of Cipro off the market. The manufacturers deny these claims.
This settlement is with Bayer Corporation only; the case against the other manufacturers continues.
Neither the case nor the settlement is about the safety or effectiveness of Cipro.
Bayer has paid $74 million into a settlement fund that will compensate consumers and third-party payors (Class Members) who paid or reimbursed for Cipro in California between January 8, 1997 and October 31, 2004. Cipro purchasers not eligible for settlement payments include: (1) anyone who received Cipro through the MediCal Prescription Drug Program, (2) anyone who purchased Cipro to resell it, (3) government entities, (4) the manufacturers and related entities being sued, and (5) all purchasers of Cipro who paid a flat co-payment and who would have paid the same co-payment for a generic version under their health insurance policy.
Individual payments will be based on the total number of valid claims filed and how much the Class Member paid or reimbursed for Cipro. Attorneys’ fees not to exceed one-third of the fund, litigation costs, and other fees and expenses will be deducted prior to distribution. Full details about the settlement can be found in the Settlement Agreement, which is available at www.CiproSettlement.com.
Class Members must submit a claim form by March 31, 2014 in order to get a payment. The claim form and instructions on how to submit it are available at www.CiproSettlement.com or by calling 1-866-404-0135.
Class Members may comment on or object to the settlement by October 16, 2013. Details on how to comment or object are available at www.CiproSettlement.com.
The Court will hold a hearing on November 15, 2013 to consider whether to finally approve the settlement and whether to approve Class Counsel’s application for attorneys’ fees, reimbursement of expenses, and service awards for Class Representatives.
For more information about the settlement or to obtain a claim form, visit: www.CiproSettlement.com or call 1-866-404-0135.
SOURCE Lieff Cabraser Heimann & Bernstein, LLP, Zwerling, Schachter & Zwerling, LLP, the Joseph Saveri Law Firm, Inc., and Krause, Kalfayan Benink & Slavens, LLP