Teva Gets Nod For $24M Nexium Pay-For-Delay Settlement

Law360, New York (June 12, 2015, 3:37 PM EDT) -- A Massachusetts federal judge on Friday gave tentative approval to a $24 million settlement between Teva Pharmaceutical Industries Ltd. and class action plaintiffs in a pay-for-delay case over generic versions of AstraZeneca PLC’s heartburn drug Nexium.

U.S. District Judge William G. Young in separate orders preliminarily approved deals Teva reached with end-payers and direct purchasers of Nexium, which would end their claims against the drugmaker.

The plaintiffs have said AstraZeneca essentially paid off Teva to keep the company from bringing a generic version of the heartburn treatment to market and that Ranbaxy Inc. was part of a broader conspiracy to delay...

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