Pfizer Agrees To Pay $93 Million For Lipitor Antitrust Lawsuit Settlement

Pfizer, a renowned pharmaceutical company, has reached an agreement to pay a substantial sum of $93 million to settle antitrust allegations related to its cholesterol drug Lipitor. The allegations revolve around claims that Pfizer colluded with Ranbaxy Laboratories, an Indian pharmaceutical company, to hinder the entry of cheaper generic versions of Lipitor into the market. This agreement comes following a lawsuit filed by wholesale drug distributors, including Rochester Drug Co-Operative Inc and Drogueria Betances LLC of Puerto Rico, who accused Pfizer of engaging in anticompetitive practices.

Although Pfizer has agreed to settle, it has not admitted liability, maintaining that the allegations are baseless both factually and legally. However, the proposed settlement still needs approval from a judge before it can be finalized. Despite Pfizer’s stance, the settlement is viewed as a fair and reasonable resolution to the lengthy litigation process.

It’s worth noting that the case against Ranbaxy will proceed separately, indicating that the legal battles surrounding this issue are far from over. Ranbaxy, now under the ownership of Sun Pharmaceutical Industries Ltd since its acquisition in 2014, has yet to comment on the settlement.

This development underscores the complexities and legal challenges inherent in the pharmaceutical industry, particularly concerning issues of competition and market access for generic drugs.

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