CASE SETTLED
Judge Richard Stearns issued a preliminary approval of the proposed settlement between TAP Pharmaceuticals and the class. Under the terms of the settlement, $150 million will be paid by TAP on behalf of all defendants.
Hagens Berman prosecuted a lawsuit against TAP Pharmaceuticals Products, Inc. on behalf of a class of consumers and third-party payors who purchased the drug Lupron.
The lawsuit, comprised of many federal cases consolidated in United States District Court for the District of Massachusetts in Boston, charged that TAP Pharmaceutical Products, Inc., Abbott Laboratories (NYSE: ABT) and Takeda Pharmaceutical Company Limited (NYSE: TDCHF) conspired to fraudulently market, sell and distribute Lupron, causing consumers to pay inflated prices for the drug.
The suit contended that the companies did so by inflating the published average wholesale price of the drug, giving free samples to doctors knowing they would charge patients and insurers for them, and giving incentives to doctors so that they would prescribe Lupron instead of less costly alternatives.
CASE TIMELINE
Judge Richard Stearns issued a preliminary approval of the proposed settlement between TAP Pharmaceuticals and the class. Under the terms of the settlement, $150 million will be paid by TAP on behalf of all defendants. For more information, read Judge Stearns' order.
