Health Day reporter
FRIDAY, July 16, 2021 (HealthDay News) – Pfizer Inc. has agreed to pay $ 345 million in a proposed settlement to resolve lawsuits over EpiPen’s steep price increases.
EpiPens are self-injectable devices that deliver the medicine epinephrine for the emergency treatment of a life-threatening allergic reaction called anaphylaxis.
In 2016, a number of class actions were filed against Pfizer and its subsidiaries Meridian Medical Technologies Inc. and King Pharmaceuticals, alleging that they engaged in anti-competitive behavior related to EpiPen, the Associated press reported.
Another defendant company in the litigation is Mylan, which owns the EpiPen brand, although the devices are manufactured by Pfizer.
Mylan acquired the right to market and distribute the devices in 2007, when an EpiPen package cost around $ 100. Now it costs over $ 650 with no drugstore coupons or manufacturer discounts, the PA reported.
Court documents filed in federal court in Kansas City, Kansas on Thursday show that Pfizer and its two subsidiaries have asked the court to give preliminary approval to the settlement, according to the Kansas City NPR station. KCUR-FM.
Three weeks ago, most of the claims against Mylan were dismissed, but the judge allowed the antitrust claims against the company to go to trial, which is due to begin on Sept. 7, the PA reported.
Rex Sharp, an attorney for the plaintiffs, said his clients were delighted Pfizer had agreed to the settlement, noting that it would still need court approval, the PA reported
In an email to KCUR-FM, a spokesperson for Pfizer denied any wrongdoing on the part of the company and said the settlement was intended to avoid “the distraction of ongoing litigation and to focus on breakthroughs that change the lives of patients “.
The National Institute of Allergy and Infectious Diseases has more information on food allergies.
SOURCE: Associated press
Our sincere thanks to