Court Ruling Prompts Pay-to-Delay Suits Against AstraZeneca PLC (AZN)
9/7/2012 7:07:37 AM
The brand-name and generic pharmaceutical companies of the world had better hope that the U.S. Supreme Court grants Merck's petition for certiorari in the K-Dur pay-for-delay case (and ultimately reverses the 3rd Circuit Court of Appeals). If not, I have a feeling more of pharma manufacturers are going to find themselves the target of class actions like the ones AstraZeneca is now facing in New Jersey and Massachusetts federal court. In the last week, three different direct purchasers have filed class actions accusing AZ of conspiring with the generics Ranbaxy, Teva and Dr. Reddy's to keep generic versions of the blockbuster acid reflux drug Nexium off the market. Grant & Eisenhofer and Vanek, Vickers & Masinifiled a complaint in New Jersey for Meijer Distribution on Aug. 27.