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Hach Rose Schirripa & Cheverie LLP, a nationally recognized plaintiffs’ law firm dedicated to handling complex litigation, announced earlier this week that it has reached a $55 million settlement with Celgene Corporation (NASDAQ: CELG) in a long-running class action, In re Thalomid and Revlimid Antitrust Litigation. The settlement is one of the largest pharmaceutical settlements on behalf of end payors (consumers, insurers, union health and welfare funds, municipalities, and others) in an antitrust case in the last decade.
Founding partner, Frank Schirripa, said, “We are very pleased to have achieved such a sizable settlement on behalf of cancer patients and our Taft-Hartley Health and Welfare clients who have shouldered the cost of these life-saving medications.”
Hach Rose Schirripa & Cheverie filed this class action suit in 2014, alleging that Celgene had monopolized the market for two drugs, Thalomid and Revlimid, which are primarily used to treat multiple myeloma, a cancer that forms in the blood. Specifically, the plaintiffs alleged that Celgene kept generic versions of these two drugs off the market, in violation of state and federal antitrust laws. Throughout the litigation, the end payor plaintiffs asserted that prices for the two drugs were higher than they would have been in a competitive market.
The parties agreed to resolve the case following the close of discovery and during the pendency of the plaintiffs’ motion to certify the class. Any person or entity that paid for some or all of the purchase price of Thalomid or Revlimid in California, the District of Columbia, Florida, Kansas, Maine, Massachusetts, Michigan, Nebraska, New York, North Carolina, Oregon, Pennsylvania, Rhode Island, or Tennessee, for use by themselves, their families, or their members, employees, insureds, participants, or beneficiaries, will be invited to file a claim to participate in the settlement.
Hach Rose Schirripa & Cheverie attorneys working on this case include Frank Schirripa, Daniel Rehns, Seth Pavsner and Kathryn Hettler. The other lead counsel in the case were Hausfeld LLP and Block & Leviton LLP.
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About Hach Rose Schirripa & Cheverie
Hach Rose Schirripa & Cheverie LLP specializes in the fields of antitrust, securities, corporate governance and consumer protection litigation. Over the past twenty years, the firm’s attorneys have established themselves as leading representatives of investor and consumer rights in these areas. The firms’ attorneys have successfully litigated complex class actions in both state and federal courts through the United States and are committed to protecting consumers’ rights, investors’ assets and victims of corporate wrongdoing. For more information about the firm, please visit www.hrsclaw.com.