Celgene Agrees to $55M Settlement in Price-Fixing Litigation
The drugmaker was accused of antitrust violations for allegedly interfering with development of generic versions of two of its drugs.
July 25, 2019 at 03:46 PM
4 minute read
The original version of this story was published on New Jersey Law Journal
Drugmaker Celgene has agreed to pay $55 million to settle a class action lawsuit accusing it of violating antitrust laws by interfering with the development of generic versions of two of its cancer drugs.
Plaintiffs in the class action, a group of labor unions and other end payers, moved Wednesday for preliminary approval of the settlement. The suit claimed Celgene repeatedly hiked the prices of its drugs Thalomid and Revlimid while pursuing an anti-competitive scheme against at least 11 makers of generic drugs. The settlement was reached after negotiations with mediator Jed Melnick of JAMS in New York.
Celgene charges up to $500 per capsule for the drugs, and has taken in $17.1 billion selling them from 2009 to 2013, the suit claimed.
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