PHILADELPHIA, July 10, 2024 /PRNewswire/ --

NastLaw LLC announces: If you purchased certain named generic pharmaceutical drugs directly from certain pharmaceutical manufacturers from May 1, 2009 through December 31, 2019, your rights may be affected by a proposed class action settlement.

A federal court authorized this notice. This is not a solicitation from a lawyer.

What is the lawsuit about?  A proposed Settlement has been reached in a class action lawsuit ("the Lawsuit"), which alleges that Sandoz Inc. and Fougera Pharmaceuticals Inc. (collectively "Settling Defendants") and other generic drug manufacturers violated the federal antitrust laws by conspiring to fix, maintain, and stabilize prices, rig bids, and engage in market and customer allocations of certain generic drugs (the "Named Generic Drugs"), causing direct purchasers of the Named Generic Drugs to pay more than they should have. The Settling Defendants deny liability as alleged in the Lawsuit. The Court has not decided who is right. The proposed Settlement does not resolve any of the claims of the Settlement Class against the remaining Defendants. The Lawsuit against the remaining Defendants is ongoing.

Who is included? The Court has certified a Settlement Class that includes all persons or entities, and their successors and assigns, that directly purchased one or more of the Named Generic Drugs from one or more Current or Former Defendants in the United States and its territories and possessions, at any time during the period from May 1, 2009 through December 31, 2019. Excluded from the Settlement Class are Current and Former Defendants and their present and former officers, directors, management, employees, subsidiaries, or affiliates, judicial officers and their personnel, and all governmental entities. The Settlement Agreement listing the Named Generic Drugs and Current and Former Defendants is available on the Settlement website: GenericDrugsDirectPurchaserSettlement.com. The Settlement Agreement also is on public file with the United States District Court for the Eastern District of Pennsylvania, 601 Market Street, Philadelphia, PA 19106 in the case In re: Generic Pharmaceuticals Pricing Antitrust Litigation, Case No. 2:16-MD-02724.

What does the settlement provide? The proposed Settlement provides for a $265,000,000.00 payment by Settling Defendants ("Settlement Fund").  The Settlement Fund may be reduced to $233,200,000.00 or increased to a maximum of $327,351,850.00 under certain circumstances as explained in the Settlement Agreement.  In addition, the Direct Purchaser Plaintiff ("DPP") attorneys who have worked on the Lawsuit for the Settlement Classes will seek Court approval to pay expenses, and service awards for the class representatives (or named plaintiffs) out of the Settlement Fund. DPP attorneys will also request attorneys' fees of up to one-third of the net Settlement Fund, including interest, after expenses (and service awards) are deducted, and any portions of the Settlement Funds created from DPPs' prior Settlements that have been set aside pursuant to Court Order.  Any motion for fees, expenses and service awards will be posted on the Settlement website GenericDrugsDirectPurchaserSettlement.com. no later than November 22, 2024. The calculations of the dollar amount that each Settlement Class Member will be paid from the Settlement Fund are set forth in the Plan of Allocation, which also is available on GenericDrugsDirectPurchaserSettlement.com.

What are your options? If you are a Settlement Class Member and you do nothing, you will remain in the Settlement Class and are eligible to participate in the Settlement as described in this notice, if the Settlement is approved. However, you will need to complete, sign, and return the claim form (once it is sent to you) in order to obtain a payment.  We do not know when the claim forms will be mailed.  You should check GenericDrugsDirectPurchaserSettlement.com for information regarding timing.  If you did not receive a Notice in the mail, and you think you are a potential Settlement Class Member, please identify yourself or your company by letter to the following address: In re: Generic Pharmaceuticals Pricing Antitrust Litigation – Direct Purchasers, c/o A.B. Data, Ltd., P.O. Box 173095, Milwaukee, WI  53217. Or send an email to info@GenericDrugsDirectPurchaserSettlement.com, or call 877-315-0583. You may be required to submit proof of a qualifying direct purchase to establish that you are a Settlement Class Member. Such claimants may also be required to submit purchase data as part of the claims process. As a Settlement Class Member, unless you opt out of the Settlement, you will be bound by all orders and judgments of the Court.

In addition, if you are a Settlement Class Member, you may request exclusion from (or opt out of) the Settlement, and if you do not opt out, you may also object to the Settlement.  Instructions for opting-out or objecting can be found in the publicly available case file and website, as described above.  You must mail your request to opt out or your objection by October 8, 2024. The Court will hold a Fairness Hearing on March 17, 2025, to decide whether to approve the Settlement and any requests for fees, expenses, and service awards for the Class Representatives. The Court will also consider a Plan of Allocation for distributing the Settlement Fund to Settlement Class Members. If there are objections, the Court will consider them at the hearing.  You do not need to attend the hearing.  If you wish to appear at the hearing, you must file a "Notice of Intention to Appear" with the Court and you may hire your own attorney to appear in Court for you at your own expense.   

For more information:  Go to the website: GenericDrugsDirectPurchaserSettlement.com or call 877-315-0583 for more information on the Settlement, the lawsuit, and your potential rights and options related to the Settlement, and the Plan of Allocation. The website includes, for example, a list of the generic drugs that you would have had to purchase and a list of the generic manufacturers that you would have had to purchase directly from in order to be eligible for a payment.

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SOURCE Nast Law LLC