The antitrust trial involving Gilead and Teva over inflated HIV drug prices is set to begin on Thursday. However, the two drugmakers reached a last-minute agreement with major pharmacies, and Gilead settled with direct purchasers. The remaining claims will be taken to a California federal jury.
U.S. District Judge Edward M. Chen has announced settlements ahead of Thursday’s openings, reported Law360. The settlements resolve claims against Gilead and Teva by retailer plaintiffs such as Walgreens, CVS and Rite Aid, and claims against Gilead by two classes of direct purchaser plaintiffs, which include KPH Healthcare Services Inc.
The plaintiffs have claimed that Gilead and Teva entered into an agreement that hindered the entry of generic drug makers into the market for specific HIV drugs, leading to higher drug costs and a breach of federal antitrust laws.
Read more: Gilead And Teva’s HIV Antitrust Trial Begins
Following the legal confirmation of settlements with a Gilead lawyer, Judge Chen expressed satisfaction with the outcome.
“It seemed to me that it makes imminent sense to resolve this case … given the huge range of potential outcomes,” the judge said, adding that the mediator “has done a masterful job.”
The trial then went forward with the remaining plaintiffs: United Healthcare Services, individual health plan purchasers and indirect purchaser classes.
Featured News
T-Mobile’s Acquisition of Ka’ena Corporation Receives FCC Approval
Apr 26, 2024 by
CPI
UK Regulator Announces Two New Senior Executive Appointments
Apr 26, 2024 by
CPI
Paramount Global and Skydance Media Near Merger Deal, Eyeing CEO Change
Apr 26, 2024 by
CPI
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI