Novo Nordisk Pays $19M To Settle Prandin Antitrust Action
Law360, Los Angeles (November 18, 2014, 8:18 PM EST) -- Novo Nordisk A/S has agreed to pay $19 million to settle a putative class action in Michigan federal court accusing it of attempting to monopolize the market for popular diabetes treatment Prandin by pursuing sham infringement litigation against generic-drug makers.
In an unopposed motion Tuesday for an award of attorneys’ fees, reimbursement of expenses and payment of incentive awards to the class representatives, American Sales Co. and Rochester Drug Co-Operative Inc. sought roughly $6.4 million in attorneys’ fees and expenses for the end of the suit.
The suit claimed that Novo Nordisk has maintained an unlawful monopoly on the market for...
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