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WW Announces Final Approval of $28.6 Million Settlement with AstraZeneca
On December 19, 2008, Judge Patti B. Saris of the United States District Court for the District of Massachusetts granted final approval to a $28.6 million settlement with AstraZeneca ("AZ"). The settlement relates to the claims of Medicare beneficiaries who made co-payments for Zoladex, a widely-used drug for the treatment of prostate cancer, under the Medicare Part B Program from January 1, 1991 through December 31, 2004. The settlement resolves claims that AstraZeneca fraudulently inflated the Average Wholesale Price ("AWP") of Zoladex, causing Medicare beneficiaries to pay more for the drug. WW has been co-lead counsel in the litigation since 2002.
The settlement provides for AstraZeneca to pay $24 million to the Class and to pay the costs of notice and administration. In addition, AstraZeneca agreed to pay $8,580,000 in attorneys' fees and costs. The two class representatives also received incentive awards of $4,500 and $5,000.
In the order granting final approval, Judge Saris stated that Class Counsel "vigorously and effectively pursued the Class Members' claims before this Court in this highly complex case," and that "the Settlement was obtained as a direct result of Class Counsel's skillful advocacy."
For a copy of the order granting final approval, click here.
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