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Daraprim manufacturer Vyera Pharmaceuticals agreed to pay up to $28 million as part of a settlement to resolve claims it worked to suppress generic alternatives to the malaria preventative while raising the price of brand-name drugs.
The settlement benefits third-party payors who paid or provided reimbursement for Daraprim between Aug. 7, 2015, and Jan. 28, 2022. This includes a variety of third parties, such as health insurance companies, benefit plans, self-insured employers, and more.
Daraprim (pyrimethamine) is an antiparasitic drug used in the treatment and prevention of parasitic infections such as toxoplasmosis and malaria, according to WebMD. The drug can be life saving for those impacted by the potentially fatal parasites.
Vyera Pharmaceuticals allegedly suppressed generic alternatives while raising the drug’s price by 4,000 percent.
Vyera Pharmaceuticals is the former company of Martin Shkreli, known as “pharmacy bro” in pop culture. Shkreli, who was recently banned for life from running any public U.S. companies, Reuters reported, came to fame when he raised the price of Daraprim from $17.50 per tablet to $750 per tablet in 2015.
Third-party payors objected to this massive price increase in a class action lawsuit against Shkreli, Vyera, and parent company Phoenixus AG. According to the plaintiffs, the Daraprim price increase was unethical and unlawful under antitrust and consumer protection laws.
The defendants did not admit any wrongdoing but agreed to resolve these allegations with a settlement worth up to $28 million. This fund includes a minimum $7 million, with $21 million in additional potential cash payments.
The companies also agreed to pay $40 million to the Federal Trade Commission (FTC) to resolve monopoly and price-gouging allegations.
Under the terms of the settlement, third-party payors can collect cash payments based on the amount paid for Daraprim.
Payments will vary depending on the amount claimed, documentation provided, and other factors, but will be at least $100.
Without claim documentation, payments are capped at 80 percent reimbursement of Daraprim payments made. Acceptable documents include receipts, canceled checks, invoices, statements, and other records.
The deadline for exclusion in the malaria drugs settlement is April 18, 2022.
The objection deadline is May 23, 2022.
The final approval hearing for the settlement is scheduled for June 17, 2022.
In order to receive settlement benefits, Class Members must submit a valid claim form by June 1, 2022.
The settlement benefits third-party payors who paid or provided reimbursement for Daraprim between Aug. 7, 2015, and Jan. 28, 2022. This includes a variety of third parties, such as health insurance companies, benefit plans, self insured employers, and more.
Without claim documentation, payments are capped at 80 percent reimbursement of Daraprim payments made. Acceptable documents include receipts, canceled checks, invoices, statements, and other records.
NOTE: If you do not qualify for this settlement do NOT file a claim.
Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.
BCBSM, Inc. v. Vyera Pharmaceuticals, et al., Case No. 21-cv-1884-DLC pending in the United States District Court for the Southern District of New York
Daraprim TPP Settlement c/o A.B. Data, Ltd. P.O. Box 173115 Milwaukee, WI 53217 info@DaraprimTPPSettlement.com 877-316-0144
Kellie Lerner Benjamin Steinberg ROBINS KAPLAN LLP
Steven A Reed MORGAN LEWIS & BOCKIUS LLP
Kennith R David KASOWITZ BENSON TORRES LLP
Christopher H Casey DUANE MORRIS LLP
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Please note: Top Class Actions is not a settlement administrator or law firm. Top Class Actions is a legal news source that reports on class action lawsuits, class action settlements, drug injury lawsuits and product liability lawsuits. Top Class Actions does not process claims and we cannot advise you on the status of any class action settlement claim. You must contact the settlement administrator or your attorney for any updates regarding your claim status, claim form or questions about when payments are expected to be mailed out.
Add plz took this for 1 months and changed meds due to something bite me on my arm at the lake
Add plz took this for 3 months and changed meds
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No proof required! Daraprim manufacturer Vyera Pharmaceuticals agreed to pay up to $28 million as part of a class action settlement resolving claims it worked to suppress generic alternatives to the malaria preventative while raising the price of brand-name drugs.... Read More
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