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$345 Million Settlement Proposed in EpiPen Lawsuits


Jul 18, 2021
FRIDAY, July 16, 2021 (HealthDay News) Pfizer Inc. has agreed to pay $345 million in a proposed settlement to resolve lawsuits over steep EpiPen price increases.
In 2016, a number of class-action lawsuits were filed against Pfizer and its subsidiaries Meridian Medical Technologies Inc. and King Pharmaceuticals, alleging they engaged in anticompetitive conduct related to EpiPen, the
Associated Press reported.
Court documents filed Thursday in federal court in Kansas City, Kansas, show that Pfizer and its two subsidiaries asked the court to give preliminary approval to the settlement, according to Kansas City’s NPR station KCUR-FM, the
AP reported. In an email to KCUR-FM, a Pfizer spokesperson denied any wrongdoing by the company and said the settlement was sought to avoid “the distraction of continued litigation and focus on breakthroughs that change patients’ lives.” ....

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Stocks close lower, EpiPen price hike settlement agreement


Stocks close lower, EpiPen price hike settlement agreement
NEW YORK (AP) Stocks closed lower on Wall Street today, pulling major indexes a bit further below the record highs they marked at the start of the week. Investors continue to focus on where the economy is headed as the pandemic wanes, and also on the latest company earnings reports. The S&P index fell 0.3%. Technology and communications stocks were the biggest weights on the market. Banks, which have been reporting mostly solid financial results, also fell as bond yields headed lower. Jobless claims fell to another pandemic low.
KANSAS CITY, Kansas (AP) Pfizer Inc. and two of its subsidiaries have agreed to pay $345 million under a proposed settlement to resolve litigation over EpiPen price hikes. Pfizer and its subsidiaries Meridian Medical Technologies Inc. and King Pharmaceuticals, asked a federal court to grant preliminary approval to the settlement today. Numerous class action lawsuits were filed alleging ....

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