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US Judge Rejects “Unseemly” Fee Bid In Namenda Antitrust Case

By  |  June 16, 2020

Lawyers who secured a US$750 million settlement for purchasers of Allergan’s Alzheimer’s drug in an antitrust lawsuit will receive US$69 million in fees, a federal judge has ruled, calling the US$157 million they had requested “unseemly and unnecessary,”reported Reuters.

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    The fee award, ordered by Chief Judge Colleen McMahon of the Southern District of New York on Monday, June 15, will be divided among six firms: Garwin Gerstein & Fisher, Berger Montague, Faruqi & Faruqi, Heim Payne & Chorush, Odom & Des Roches and Smith Segura & Raphael.

    Allergan is to pay  US$750 million to direct and indirect purchasers of its Alzheimer’s disease medication Namenda, resolving a class action suit that alleged the Ireland-domiciled company tried to prevent or delay entry of generic competitors. 

    The suit was filed after the New York attorney general won a settlement making similar charges.

    Full Content: Reuters

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