Teva Strikes $24M Deal To Exit Nexium Pay-For-Delay Suit
Law360, San Diego (April 2, 2015, 10:47 PM EDT) -- Class action plaintiffs in a pay-for-delay case over generic versions of AstraZeneca PLC’s heartburn drug Nexium disclosed on Thursday a $24 million settlement freeing Teva Pharmaceutical Industries Ltd. from the case, according to filings in Massachusetts federal court.
The plaintiffs said Teva had reached a joint arrangement with direct and indirect purchasers as well as individual plaintiffs, with the money being used to reimburse them for past costs and expenses tied to the multidistrict litigation.
The plaintiffs claim that AstraZeneca essentially paid off Teva to keep the company from bringing a generic version of the heartburn treatment to market and that...
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