- $74 Million Settlement Reached In Cipro Pay-For-Delay Suit
- July 17, 2013 | Author: Eric B. Fastiff
- Law Firm: Lieff, Cabraser, Heimann & Bernstein, LLP - San Francisco Office
California consumers who purchased the widely prescribed antibiotic Cipro, and third party payors who reimbursed for California purchases, have reached a $74 million cash settlement with Bayer.
Between 1997 and 2003, Bayer paid its would-be generic drug competitors nearly $400 million to refrain from selling more affordable versions of Cipro.
In this "pay-for-delay" deal, Bayer paid off generic drug companies to end patent litigation and thus preserve its vulnerable Cipro patent monopoly, the consumers charged. As a result, they were forced to pay inflated prices for the drug -- frequently prescribed to treat urinary tract, prostate, abdominal, and other infections.
On July 11, 2013, Plaintiffs asked the Superior Court to preliminarily approve the settlement. If and when it is finally approved, the settlement will resolve claims only against Bayer; Plaintiffs will continue to prosecute the action against Barr and the other generic drug company defendants.
"The $74 million settlement with Bayer is a fair, adequate, and reasonable amount for the class members," said Eric B. Fastiff, the chair of Lieff Cabraser's antitrust and intellectual property practice group. "We hope the Bayer settlement will prompt the other defendants to settle, and that this litigation will prompt the pharmaceutical industry to sell prescription drugs to consumers at affordable prices."