Partial Settlement of a Class Action Lawsuit for Purchasers of Solodyn and/or Its Generic Equivalent is Announced
NEW YORK, April 28, 2017 /PRNewswire-HISPANIC PR WIRE/ –
If You Purchased Solodyn and/or Its Generic Equivalent Partial Settlements of a Class Action Lawsuit May Affect Your Rights
Partial settlements have been reached in a class action lawsuit involving the antibiotic drug Solodyn. The lawsuit claims that Medicis Pharmaceutical Corp., Valeant Pharmaceuticals International, Inc., Impax Laboratories, Inc., Lupin Limited, Lupin Pharmaceuticals Inc., and Sandoz Inc. (the “Defendants”) violated state competition (i.e. antitrust and consumer protection) and unjust enrichment laws by agreeing not to compete with each other and keeping lower-cost generic versions of Solodyn off the market. The Defendants deny this. No one is claiming that Solodyn is unsafe or ineffective.
WHAT DO THE SETTLEMENTS PROVIDE?
To settle the lawsuit, Lupin Pharmaceuticals Inc. and Lupin Limited (”Lupin Defendants”) and Sandoz Inc. (”Sandoz”) have each agreed: (a) that they would be willing to provide certain witnesses that Plaintiffs could call and a declaration that the Plaintiffs could use during the Solodyn case involving the overall End-Payor Class, other Plaintiffs, and the Non-Settling Defendants; and (b) to deposit $625,000 and $1.75 million, respectively, into Settlement Funds. If the Settlements are approved by the Court and become final, the Settlement Funds, inclusive of interest, will be used to: (1) pay for costs and expenses incurred or to be incurred by Counsel in continuing the lawsuit against Medicis Pharmaceutical Corp., Valeant Pharmaceuticals International, Inc., and Impax Laboratories, Inc. (the “Non-Settling Defendants”); (2) cover taxable costs and taxes payable on the Settlement Funds; (3) pay for notice and other expenses; and (4) pay for service awards not to exceed $10,000 to the class representatives in recognition of their efforts to date on behalf of the Classes. Any remainder in the Settlement Funds, after the payment of the above expenses, shall be distributed to the End-Payor Class for the Lupin Settlement and the End-Payor Class for the Sandoz Settlement in a manner approved by the Court at the conclusion of the litigation. The Settlement Agreements, available at the website www.SolodynCase.com contain more details. These Settlements involve only the Lupin Defendants and Sandoz. The case will continue against the Non-Settling Defendants.
WHO IS INCLUDED IN THE CLASSES?
Generally, you are included in the Classes if you purchased, paid and/or provided reimbursement for some or all of a Solodyn and/or its generic equivalent prescription in the United States and its territories, including Puerto Rico, in tablet form, from July 23, 2009, onward. Certain third-party payors are also members of the Classes.
You are NOT a member of the Classes if: you paid a “flat co-payment” for all of your prescription drug purchases regardless of whether they are brand or generic; you are one of the Defendants or an officer, director, manager, employee, subsidiary, or affiliate of any Defendant(s); you purchased only directly from Defendants or for resale purposes; you purchased or received Solodyn or its generic equivalent only through a Medicaid program; you are the judge in this lawsuit or a member of the judge’s immediate family; and/or you previously excluded yourself from the overall End-Payor Class.
YOUR RIGHTS AND OPTIONS
If you are a Class Member, you have the right to exclude yourself (to opt-out) from one or both of the Settlements no later than June 12, 2017. You may also comment on or object to one or both of the proposed Settlements. To do so, you must act by June 12, 2017. Details on how to request exclusion, comment, or object are at www.SolodynCase.com.
The Court will hold a hearing tentatively set for 3:00 p.m. on November 27, 2017, to consider whether the Settlements and all of their terms are fair, reasonable, and adequate. Please check the website for updates.
FOR MORE INFORMATION