>Tricor
Date Filed: June 1, 2005
Court: U.S. District Court
Location: Delaware
In June 2005, HBSS filed an antitrust lawsuit on behalf of a class of consumers and third party payors against pharmaceutical manufacturers Abbott Laboratories and Fournier Industries concerning the brand name cholesterol drug Tricor. HBSS has been appointed co-lead class counsel by the Court.
According to the lawsuit, beginning in 2001 defendants manipulated the statutory framework that regulates the market for pharmaceutical drugs by instituting baseless patent litigation against generic manufacturers and switching the dosage strengths and forms of Tricor following approval of generic equivalents. The lawsuit alleges defendants tried to prevent generic substitutes of Tricor from having a meaningful opportunity to enter the market. As a result, consumers and third-party payors, such as self-insured employers, Taft-Hartley benefit funds, and insurance companies were forced to purchase Tricor, the expensive name brand as oppose to a lower-priced generic option.
On October 28, 2009, after more than four years of litigation, Chief Judge Sue Robinson, United States District Court for the District of Delaware, approved a settlement recovery of $65.7 million for the class of consumers and third party payors. The claims administrator is currently auditing claims submitted pursuant to a court ordered notice and claims process.
Court: U.S. District Court
Location: Delaware
In June 2005, HBSS filed an antitrust lawsuit on behalf of a class of consumers and third party payors against pharmaceutical manufacturers Abbott Laboratories and Fournier Industries concerning the brand name cholesterol drug Tricor. HBSS has been appointed co-lead class counsel by the Court.
According to the lawsuit, beginning in 2001 defendants manipulated the statutory framework that regulates the market for pharmaceutical drugs by instituting baseless patent litigation against generic manufacturers and switching the dosage strengths and forms of Tricor following approval of generic equivalents. The lawsuit alleges defendants tried to prevent generic substitutes of Tricor from having a meaningful opportunity to enter the market. As a result, consumers and third-party payors, such as self-insured employers, Taft-Hartley benefit funds, and insurance companies were forced to purchase Tricor, the expensive name brand as oppose to a lower-priced generic option.
On October 28, 2009, after more than four years of litigation, Chief Judge Sue Robinson, United States District Court for the District of Delaware, approved a settlement recovery of $65.7 million for the class of consumers and third party payors. The claims administrator is currently auditing claims submitted pursuant to a court ordered notice and claims process.
Key Attorneys
Thomas M. Sobol
Thomas Sobol has been the managing partner of Hagens Berman Sobol Shapiro’s Boston office since 2002.... link >>
Thomas Sobol has been the managing partner of Hagens Berman Sobol Shapiro’s Boston office since 2002.... link >>
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