Toprol XL

DEFENDANT NAME: AztraZeneca PLC
STOCK SYMBOL:
CASE NUMBER: 06-CV-00063
CASE NAME:
COURT: U.S. District Court for the District of Delaware
STATUS: Settled
CLASS PERIOD:
LEAD PLAINTIFF DEADLINE:
DATE FILED: 01/31/06
COURT LOCATION:
RELATED DOCUMENTS:
CONTACT:

Case Settled

AstraZeneca moved to dismiss the complaint in June 2006 and the Court stayed the case. In April 2010, the Court issued an opinion denying the motion to dismiss. After a period of intense documentary and deposition discovery, the parties entered into discussion of settlement and the case settled with a class-wide payment of $20 million. Final approval of the settlement was granted on Feb. 21, 2012.

In January 2006, HBSS filed an antitrust lawsuit on behalf of pharmaceutical product wholesalers and pharmacies against pharmaceutical manufacturer AstraZeneca, alleging the company engaged in an anti-competitive scheme to suppress generic competition for the drug Toprol XL, an extended-release hypertension drug. HBSS is one of three firms leading the case on behalf of a proposed class of direct purchaser plaintiffs.

AstraZeneca's misconduct included instituting baseless patent infringement litigation against generic pharmaceutical manufacturer KV Pharmaceutical Company which, under the Hatch-Waxman Act, resulted in an automatic 30-month stay in the FDA's approval of KV's application to market a generic version of Toprol XL.


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02/21/12: Case Settled

AstraZeneca moved to dismiss the complaint in June 2006 and the Court stayed the case. In April 2010, the Court issued an opinion denying the motion to dismiss. After a period of intense documentary and deposition discovery, the parties entered into discussion of settlement and the case settled with a class-wide payment of $20 million. Final approval of the settlement was granted on Feb. 21, 2012.

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