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US: $64M offer settles vaccine price-fixing class action

By  |  October 7, 2013

Vaccine and blood products maker CSL has reportedly agreed to settle a major price-fixing class action against the company with a $60 million offer that, if cleared, would end a four-year case initiated by various healthcare groups.

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    According to reports, US- and Puerto Rico-based health groups involving private hospitals first sued CSL in 2009 accusing the company and others of fixing treatment prices for plasma therapy by colluding to restrict supplies.

    CSL continues to deny the allegations, but in a statement said the negotiated settlement was in the best interest of the firm and its shareholders.

    Reports say the lawsuit was launched following the US Federal Trade Commission’s blockage of CSL’s attempted takeover of rival Talecris Therapeutics for $3.1 billion, finding the competitors operated as a “tight oligopoly” and manipulated markets.

    Full Content: Herald Sun

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