Pfizer to pay $25.5 mln to settle remaining Effexor XR antitrust claims [Reuters]
Pfizer, Inc. (PFE)
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Source: Reuters
a less expensive generic version of antidepressant Effexor XR, in addition to a $39 million settlement disclosed earlier this month. Lawyers for plaintiffs asked a New Jersey federal judge to approve the deal in a motion filed Friday. The money would go to a proposed class of so-called indirect purchasers that bought Effexor XR from intermediaries rather than from Wyeth itself. The proposed deal allocates 78% of the funds to third-party payors, like insurance companies and employee health plans, and 22% to individual consumers, according to the motion. Plaintiffs' attorneys would take 34%, or about $8.7 million, in fees. Pfizer, which did not admit wrongdoing, said in a statement that the claims were without merit but that the settlement was "fair, reasonable and the best way to resolve this litigation." James Cecchi, lead attorney for the plaintiffs, declined to comment. The previous $39 million settlement, for which lawyers sought earlier this month, covered a proposed cla
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PFE
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PFE
Sec Filings
- 5/9/24 - Form S-8
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- 5/1/24 - Form 4
- PFE's page on the SEC website