On Thursday, September 12, 2024, United States District Judge Zahid N. Quraishi of the District of New Jersey granted final approval of a $25.5 million class action settlement against pharmaceutical company Wyeth Inc. This settlement resolves claims that Wyeth engaged in anticompetitive practices to delay the entry of generic versions of the drug Effexor XR, ending litigation that had been ongoing since 2011. Plaintiffs’ claims are still pending against the remaining Defendant, Teva Pharmaceuticals.
Preliminarily approved by US District Judge Peter G. Sheridan of the District of New Jersey on May 17th, the settlement established a $25.5 million fund to compensate the settlement class. For the purposes of the settlement, the court certified a class of indirect purchasers from multiple states and named WBE as one of the Class Counsel.
For more information on the Effexor XR settlement, please visit https://effexorxrindirectsettlement.com/.