Lowey Dannenberg, P.C. and The Dugan Law Firm, APLC Announce a Proposed $145 Million Class Action Settlement Involving Third-Party Payors' Payments for Generic Nexium (esomeprazole magnesium), Bra...

WEST CONSHOHOCKEN, Pa., May 13, 2022 /PRNewswire/ --

If you paid for or provided reimbursement for some or all of the purchase price of generic Nexium (esomeprazole magnesium), brand or generic Diovan (valsartan), or brand or generic Valcyte (valganciclovir hydrochloride),  you could get a payment from a class action lawsuit.

Your rights may be affected by a proposed settlement in a class action lawsuit regarding the prices paid for generic Nexium and brand and generic Diovan and Valcyte by third-party payors filed against Defendants Sun Pharmaceutical Industries, Ltd. and Ranbaxy, Inc. ("Ranbaxy"). The case name is In Re Ranbaxy Generic Drug Application Antitrust Litigation, MDL No. 2878, Master File No. 19-md-02878-NMG (D. Mass.) (the "Lawsuit").  The Lawsuit, which is pending in the District of Massachusetts, alleges Defendants engaged in a scheme, in violation of state antitrust, state consumer protection, and federal racketeering laws, involving misrepresentations to the FDA in connection with pursuing tentative approvals for abbreviated new drug applications, which resulted in delayed market launch of generic versions of Nexium, Diovan, and Valcyte. As a result, the Lawsuit alleges that the End-Payor Classes paid or reimbursed for the at-issue drugs at prices that were higher than they would have otherwise been. Defendants deny any wrongdoing.

The Court has preliminarily approved the proposed settlement between the End-Payor Classes and Ranbaxy (the "Settlement"). The proposed Settlement will provide for the payment of $145 million (the "Settlement Fund") to resolve the End-Payor Classes' claims against Ranbaxy. The full text of the proposed Settlement Agreement, which is dated April 8, 2022, is available at www.RanbaxyTPPLitigation.com. 

The Court has scheduled a hearing to decide whether to approve the Settlement, the plan for allocating the Settlement Fund to Class Members, and the request of Lead Class Counsel for payment of attorneys' fees and reimbursement of expenses and service awards to the Class Representative Plaintiffs out of the Settlement Fund (the "Fairness Hearing"). The Fairness Hearing is scheduled for September 8, 2022, at 11:00 a.m., before Judge Nathaniel Gorton at John Joseph Moakley United States Courthouse, One Courthouse Way, Boston, Massachusetts 02210.

Who Is Included?

You are a member of the Class(es) if you are a third-party payor and you purchased or provided reimbursement for prescription drugs as described below:

⁽¹⁾Generic Nexium Nationwide Class. Between May 27, 2014 and February 1, 2019, you purchased or paid for some or all of the purchase price of AB-rated generic versions of Nexium in the United States and its territories;

⁽²⁾Brand or Generic Diovan Nationwide Class. Between September 28, 2012 and April 1, 2020, you purchased or paid for some or all of the purchase price of Diovan and/or AB-rated generic versions of Diovan in the United States and its territories; or

⁽³⁾Brand or Generic Valcyte Nationwide Class. Between August 1, 2014 and April 1, 2020, you purchased or paid for some or all of the purchase price of Valcyte and/or AB-rated generic versions of Valcyte in the United States and its territories.

Excluded from all of the Classes are: natural person consumers; Defendants, their officers, directors, management, employees, subsidiaries, and affiliates; all federal and state governmental entities except for cities, towns, municipalities, or counties with self-funded prescription drug plans; all persons or entities who purchased the at-issue drugs for purposes of resale from any of the Defendants or any brand or generic manufacturer; fully insured health plans (i.e., health plans that purchased insurance covering 100% of their reimbursement obligation to members); and pharmacy benefit managers. 

For additional details, please read the Long Form Notice available at www.RanbaxyTPPLitigation.com.

Your Rights and Options

DO NOTHING: If you are a member of a Class, by doing nothing you will remain in that Class but will not be entitled to share in any distribution from the Settlement Fund. You will be bound by any decision of the Court in this Lawsuit, including rulings on the Settlement.

SUBMIT A CLAIM FORM: If you did not exclude yourself from one or more of the classes prior to the December 20, 2021 deadline and believe you are a Class Member, you will need to complete and return a claim form to obtain a share of the Settlement Fund. The claim form, and information on how to submit it, are available on the Settlement website. Proofs of Claim must be postmarked (if mailed) or received (if submitted online) on or before October 11, 2022.

OBJECT TO THE SETTLEMENT: If you object to all or any part of the Settlement or desire to speak in person at the Fairness Hearing, you must file a written letter of objection and/or a notice of intention to speak along with a summary statement with the Court and with Lead Class Counsel and Counsel for Ranbaxy by July 18, 2022.

Want More Information?

Go to www.RanbaxyTPPLitigation.com, call 1-877-888-9232, email info@RanbaxyTPPLitigation.com, or write to Ranbaxy TPP Litigation, P.O. Box 173137, Milwaukee, WI 53217.

Please do not call the Court or the Clerk of the Court for information about the Settlement.

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SOURCE Lowey Dannenberg, P.C. and The Dugan Law Firm, APLC