Did you purchase the Branded or authorized generic Mylan EpiPens for the purpose of consumption, and not resale, by yourself, your family member(s), insureds, plan participants, employees, or beneficiaries?, then you may be entitled to a Settlement Benefit.
What is The Mylan Epipen Lawsuit Settlement
The settlement benefits individuals and entities who paid for or provided reimbursement for branded EpiPens or generic equivalents between Aug. 24, 2011, and Nov. 1, 2020.
Mylan agreed to pay $264 million to resolve claims it worked with Pfizer and other companies to raise the cost of the EpiPen.
Reuters) – Viatris Inc (VTRS.O), the drugmaker formerly known as Mylan, said on Monday it had agreed to pay $264 million to resolve a class action lawsuit alleging it engaged in a scheme to delay generic competition to its EpiPen allergy treatment.
The proposed settlement would resolve litigation that began following public outrage in 2016 over Mylan’s decision to raise the list price for a pair of EpiPen to $600 from $100 in 2008, fueling a debate about rising U.S. drug costs.
The lawsuit accused Mylan and Pfizer, which manufactured the EpiPen, of engaging in wide-ranging anticompetitive conduct that allowed them to maintain a monopoly over the market for the devices.
EpiPens are epinephrine injectors used to save people from life-threatening allergic reactions. Mylan, a Vitaris company, makes the branded version of EpiPen, but there are authorized generics available as well.
Plaintiffs in the class action lawsuit claimed the companies knowingly violated antitrust and racketeering laws through their scheme.
“Defendants devised an illegal scheme to monopolize the market for epinephrine autoinjector devices,” the Mylan EpiPen class action lawsuit contends. “As a result, millions of Americans relying on this life-saving device have paid exorbitant prices for EpiPens that are in no way tethered to or constrained by a competitive market.”
What is the Lawsuit All about
The proposed settlement would resolve litigation that began following public outrage in 2016 over Mylan’s decision to raise the list price for a pair of EpiPen to $600 from $100 in 2008, fueling a debate about rising U.S. drug costs.
Mylan hasn’t admitted any wrongdoing, but agreed to pay $264 million to resolve these allegations. Pfizer agreed to a similar settlement of $345 million in 2021.
Under the terms of the settlement, Class Members can receive a payment from one of two pools of funds. The first fund, which accounts for 20 percent of the net settlement fund, benefits individual consumers who purchased EpiPens. The second fund, made up of the remaining 80 percent of the net settlement fund, benefits third-party payors, such as insurance companies who paid for or reimbursed consumers for EpiPens.
How to know if you are in the settlement class
The settlement benefits individuals and entities who paid for or provided reimbursement for branded EpiPens or generic equivalents between Aug. 24, 2011, and Nov. 1, 2020.
The provisions of the Settlement
Under the terms of the settlement, Class Members can receive a payment from one of two pools of funds. The first fund, which accounts for 20 percent of the net settlement fund, benefits individual consumers who purchased EpiPens. The second fund, made up of the remaining 80 percent of the net settlement fund, benefits third-party payors, such as insurance companies who paid for or reimbursed consumers for EpiPens.
Exact payment amounts will vary depending on the number of valid claims filed in each pool.
Conclusion
The deadline for objection is June 8, 2022. The final approval hearing for the settlement is scheduled for July 6, 2022. In order to receive a payment from the settlement, Class Members must submit a valid claim form by July 25, 2022. Class Members who submitted a claim form with the Pfizer settlement in 2021 do not have to submit a claim, as this form will be used by the Mylan settlement to disburse payments.
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