Mylan Inc., Teva Pharmaceuticals USA Inc., Endo International PLC and nine other major drug makers are facing a propranolol class action lawsuit. The lawsuit alleges that these companies have illegally agreed to increase the price of propranolol. The latter is a generic blood pressure medication. However, their conduct, according to the class action is a violation of the Sherman Antitrust Act.
A company based in Puerto Rico has started the action. They say that as of December 2013, the aforementioned companies have agreed to fix the medication prices at over 150% their previous prices. A huge amount, isn’t it?
The whole idea of the propranolol class action lawsuit is that the drug makers conspired to make more money. They have noticed that the medication capsules were selling quite well and decided to increase the price for the tables from 700%-1,000%. The complaint states that the capsule price increase was “extraordinary” and the tablet price increase was just “radical.” An unbelievable conduct indeed!
The class action lawsuit also tries to bring proof that this was really an agreed thing between the drug makers. They have drastically increased medication prices after their meeting in October 2013 in Maryland. And the prices went up in December of the same year.
Let us see what this medication is all about. In fact, it is a beta blocker that physicians use to treat heart and circulatory diseases. It has appeared in the market since the 1980s. And most of the time, its generic version has cost far less than the branded version of it, according to the plaintiff.
Also, the plaintiff reminds about the state and federal regulatory actions regarding some senior executives at Heritage Pharmaceuticals Inc., The attorneys general of 20 states have brought lawsuits against Teva, Mylan, Heritage and other drug makers.
The propranolol class action lawsuit plaintiff is planning to represent a nationwide class. It seeks the class to include everyone in the US who purchased the capsules directly from the defendant after December 1, 2013. Also, the plaintiff seeks to represent a separate class. According to them, it should include everyone in the US who bought the tablets directly from the defendants after February 1, 2015.
If you have suffered due to the negligent conduct of a service provider, turn to a lawyer. If you think you have experienced negligent behavior by a health care provider, again, turn to a lawyer. Sometimes, people think that they can file a complaint themselves. However, not to screw things up, it’s better to leave the work to an experienced attorney.