News
WW Obtains Preliminary Approval of Settlement With AstraZeneca
November 8, 2007 - WW, co-lead counsel in the Average Wholesale Price ("AWP") litigation, announced today that Judge Patti B. Saris of the United States District Court for the District of Massachusetts granted preliminary approval of Plaintiffs' $24 million settlement with AstraZeneca Pharmaceuticals LP ("AstraZeneca") on behalf of Medicare beneficiaries who purchased Zoladex®, a drug primarily used for the treatment of prostate cancer. Plaintiffs had alleged that drug company defendants, including AstraZeneca, unlawfully inflated their AWPs, which are used as a benchmark for almost all prescription drug sales in the United States.
In the proposed settlement, AstraZeneca will pay $24 million. In addition to this amount, AstraZeneca has also agreed to pay notice and administration costs, as well as attorneys' fees of $6,500,000 and costs of $2,100,000, and additional awards to the two class representatives of $5,000 each. Although actual distributions may vary depending on the number of claims received, Medicare beneficiaries who paid for all or part of the cost of Zoladex® and who submit a valid claim form will be eligible to receive double their amount of actual damages.
The settlement is subject to certain conditions, including court approval.
To view a copy of the settlement agreement, please click here.
© Copyright 2007 - 2010. All rights reserved.