Wexler Wallace Files Against the Makers of Nexium
Wexler Wallace LLP, along with its co-counsel, filed a case on behalf of a class of end-payors (i.e., consumers and third-party payors, such as employee benefit funds and insurers) against AstraZeneca for allegedly entering into non-competition agreements with a number of generic pharmaceutical manufacturers to keep generic versions of its blockbuster drug Nexium off the market.
According to the complaint, filed Nov. 28, AstraZeneca agreed to pay generic defendants, Ranbaxy Pharmaceuticals, Teva Pharmaceuticals and Dr. Reddy’s Laboratories, substantial sums in exchange for their agreement to delay marketing of generic Nexium for six years or more. The complaint alleges that without these delays, much cheaper generic versions of the drug would have entered the market as early as April 14, 2008. AstraZeneca made $3 billion annually from sale of the drug Nexium.
For a copy of the complaint, click here.