{"id":716,"date":"2022-06-14T12:06:00","date_gmt":"2022-06-14T12:06:00","guid":{"rendered":"https:\/\/www.sweepstakesbible.com\/blog\/?p=716"},"modified":"2023-01-09T05:37:22","modified_gmt":"2023-01-09T05:37:22","slug":"sun-pharma-ranbaxy-tpp-litigation-settlement-ranbaxytpplitigation-com","status":"publish","type":"post","link":"https:\/\/www.sweepstakesbible.com\/blog\/settlement\/sun-pharma-ranbaxy-tpp-litigation-settlement-ranbaxytpplitigation-com\/","title":{"rendered":"Sun Pharma & Ranbaxy TPP Litigation Settlement Over price fixing"},"content":{"rendered":"

Settlement Website:<\/strong> RanbaxyTPPLitigation.com
\nObjection Deadline:<\/strong> 07\/18\/2022
\nClaim Form:<\/strong> https:\/\/www.ranbaxytpplitigation.com\/Online<\/a>
\nDeadline For Submitting Claim:\u00a0<\/strong>10\/11\/2022
\nFinal Hearing Date: <\/strong>09\/08\/2022
\nSettlement Amount: <\/strong>$145 million
\nProof Of Purchase:<\/strong> All related transaction data and any other claim documentation like invoices to support your claim if the settlement administrator asks for it later.<\/p>\n

Potential Claim Amount: <\/strong>On deducting the attorney\u2019s fees and other expenses, the remainder of the $145 million settlement<\/a> fund will be distributed among class members submitting valid claim forms. As per the allocation plan, 1.2% will go to the Valcyte classes, 26.2% to the Nexium settlement classes, and 72.6% to the Diovan settlement classes.<\/p>\n

Ranbaxy Inc. and Sun Pharmaceutical Industries have agreed to resolve all claims brought against them with a $145 million class-action settlement. Plaintiffs have complained about the companies allegedly fixing the price of generic Nexium (heartburn medication) and generic or branded Valcyte (prescription antiviral medication) and Diovan (prescription blood pressure medication). As per the class-action lawsuit, the defendants have violated both federal and state law with the price-fixing. Ranbaxy, a popular generic drug maker has been charged with wrongfully obtaining tentative approval from the U.S. Food and Drug Administration (FDA) for a series of drug applications including the generic variants of Diovan, Nexium, and Valcyte. This was done by misrepresenting the data integrity analysis results and factory conditions.<\/p>\n

Ranbaxy was granted a \u201c180-day exclusivity\u201d status allowing the company to block other generics from getting the approval until its product was plying on the market. This caused the drugs\u2019 prices to be higher than what they would have been otherwise. This class-action settlement will benefit third-party payors who indirectly bought, paid for, and\/or reimbursed for some or all of the purchase price of the listed drugs. There are six classes of third-party payors in the Nexium, Diovan, and Valcyte settlement as listed below:<\/p>\n