Purdue To Pay $16M To Settle OxyContin Claims

Law360, New York (September 8, 2010, 3:33 PM EDT) -- Purdue Pharma LP has agreed to pay $16 million to settle claims by direct purchasers of OxyContin that the drugmaker filed bogus patent litigation to crush generic competition.

The direct purchasers' lead plaintiffs filed a motion Tuesday in the U.S. District Court for the Southern District of New York asking for preliminary approval of the settlement, which covers a class of entities who bought the drug directly from Purdue from Dec. 12, 1995, to Aug. 31, 2010.

The settlement offer excludes Walgreen Co., Rite Aid Corp.,...
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