$150 Million Class Action Settlement by Three Drug Makers

The nationalwide class action lawsuit, which accused TAP Pharmaceutical Products Inc., Abbott Laboratories and Takeda Pharmaceutical Co. Ltd., three drug makers of overcharging consumers for the prescription drug Lupron, wasb settled for $150 million.

The class bringing the lawsuit included all persons or health plans that purchased the drug from Jan. 1, 1985 until Dec. 31, 2004.

The lawsuit accused the three drug makers of engaging in a scheme to increase market share by inflating the average wholesale price of the drug, by providing free drugs to doctors and by instructing them how to bill insurers as if they had purchased the drugs.

Link [www.syracuse.com/business/poststandard/index.ssf?/base/business-5/1158745455203340.xml&coll=1]

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