Americans can get one-time payment from $85 million generic drug settlement – but you must meet three criteria | T9BT0QJ | 2024-04-23 17:08:01
SOME Americans could soon receive a direct payment from a generic drug settlement.
The money comes after Sun Pharmaceuticals and Taro Pharmaceuticals had claims made against them in a class action lawsuit.
Details noted in the suit accused the two manufacturers and their affiliates of working in tandem to raise fixed prices on some generic drugs, per Top Class Actions.
The alleged conspiracy to increase costs for medical patients and other customers resulted in some paying much higher for the prescriptions than they would in a competitive market.
Sun Pharmaceuticals and Taro Pharmaceuticals did not admit to any wrongdoing in the case but agreed to a settlement amount of $85 million to resolve the antitrust claims and avoid further legal costs.
The contribution amounts were split unevenly between the two companies.
Taro Pharmaceuticals paid the majority of the pot at $67.643 million.
Sun Pharmaceuticals provided $117.357 million.
It's unclear exactly how the split was determined.
Those affected Americans who seek to obtain compensation from the settlement will need to keep a few deadlines in mind and meet at least three criteria to qualify.
ELIGIBILITY
Those who can benefit from the $85 million pot would need to have purchased specific generic drugs provided by either of the two companies within a certain period.
That period was noted in the suit as between May 1, 2009, and December 31, 2019.
<!-- End of Brightcove Player --> Only specific eligible drugs were determined to be in the alleged price-fixed group.
A list of the qualifying prescriptions is included on the settlement website.
Additionally, qualifying claimants would not have purchased the generic drugs from Walgreens or CVS.
Those who did purchase them from either retailer are not part of the class.
FILING A CLAIM
Before affected Americans consider filing, they must ensure they have proof of purchase of the generic drugs within the allotted period.
Prescription orders or account statements verifying the purchase would need to be included while filing a claim.
The documents must show the transaction for one or more of the eligible generic drugs listed in the suit from either Sun Pharmaceuticals or Taro Pharmaceuticals between May 1, 2009, and December 31, 2019.
<p class="article__content--intro"> Class action lawsuits offer groups of people, or 'classes,' a way to band together in court. </p> </div> </div> Those who already received a claim form in the mail from the settlement may not be required to include the proof of purchase.
Others may be asked to provide further data if it is not located by either company in their records.
A downloadable copy of the claim form to send in to a mailing address listed on the settlement website is accessible here.
DEADLINES AND PAYMENT
Prospective claimants must act fast and file their forms before the deadline of May 6, 2024.
The final approval hearing in the class action lawsuit was over a year prior on March 8, 2023.
Deadlines for exclusion and objection passed earlier on September 23, 2022.
It's unclear exactly when qualifying class members can expect to receive their direct payment from the settlement.
An estimated amount has not yet been determined.
Distributions will vary based on the amount of eligible drug purchases included per applicant.
For more related content, check out The U.S. Sun's coverage of how some Americans could score one-time payments of up to $4,000 from a $20 million settlement.
The U.S. Sun also has the $300 payments going out to qualifying residents in a $1.225 million telemarketing settlement.
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