$150 Million Class Action Settlement by Drug Makers

A class action lawsuit which was filed against TAP Pharmaceutical Products Inc., Abbott Laboratories and Takeda Pharmaceutical Co. Ltd., alleged a fraudulent scheme to market, sell and distribute Lupron resulting in overpayment for the drug, was agreed to be settled for $150 million.

The lawsuit alleged that the defendants engaged in a scheme to increase market share by inflating the average wholesale price of Lupron, providing free drugs to physicians and instructing them on how to bill insurers as if they had purchased the drugs, plus other questionable inducements.

Link [eastbay.bizjournals.com/eastbay/othercities/buffalo/stories/2006/09/18/daily19.html?b=1158552000^1347761]

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