Court Approves Record Financial Settlement To Settle Charges of Price-fixing in Generic Drug Market
On Friday, April 27, the U.S. District Court for the District of Columbia granted preliminary approval to a plan of distribution in the FTC's and the 50 states' settlement in the lawsuit against Mylan Laboratories, Inc., Cambrex Corporation, Profarmaco S.r.l., Gyma Laboratories of America, and SST Corporation. The Court, on November 29, 2000, entered a permanent injunction barring the firms from engaging in future unlawful conduct and requiring Mylan to pay $100 million into an escrow account. Purchasers of Lorazepam and/or Clorazepate during the January 1, 1998 through December 31, 1999 time period are members of the Settlement Group and may submit a claim for reimbursement. Information on this process is available by calling 800-899-5806 or visiting www.agsettlement.com on the Web.
Information about the FTC's case against Mylan Laboratories is available from the FTC's web site at http://www.ftc.gov and also from the FTC's Consumer Response Center, Room 130, 600 Pennsylvania Avenue, N.W., Washington, D.C. 20580; toll-free: 877-FTC-HELP (877-382-4357); TDD for the hearing impaired 1-866-653-4261. To find out the latest news as it is announced, call the FTC NewsPhone recording at 202-326-2710.
(FTC Matter No. X990015-1)