BOSTON, April 4, 2011 /PRNewswire-USNewswire/ -- There has been a proposed Settlement in a class action lawsuit involving several drug manufacturers and approximately 200 drugs used to treat a variety of medical conditions including: cancer, HIV, asthma, allergies, infections, pain & inflammation, gastrointestinal, lung & blood issues, and many other conditions. These drugs are often injected in a doctor's office or clinic.
This lawsuit is not about whether these drugs are safe or effective. This lawsuit claims that consumers paid too much for the drugs.
The drug manufacturers have agreed to settle the lawsuit and pay $125 million. Approximately $21.8 million will be available to pay consumer claims including Medicare Part B subscribers.
Medicare Part B subscribers are eligible for a refund if they made percentage co-payments not covered by insurance for any of the drugs included in this Settlement between January 1, 1991 and January 1, 2005. A percentage co-payment varies with the cost of the drug. A flat co-payment never varies; it's always the same no matter how much the drug costs. Consumers with supplemental insurance who did not make a co-payment or paid only a flat co-payment are not eligible for a refund.
In order to receive a payment, consumers must file claims by July 1, 2011. Consumers who do not wish to remain in the Settlement must request to be excluded in writing postmarked by May 24, 2011. Consumers who exclude themselves retain the right to sue the Defendants on their own. Consumers may object to or comment on the Settlement in writing postmarked by May 24, 2011.
Class Counsel Edward Notargiacomo says "this settlement is a victory for the millions of Medicare Part B Subscribers who overpaid for prescription medications."
For more information about the Settlement, a complete list of covered drugs, or information on how to file a claim: visit www.AWPtrack2Settlement.com or call 1-877-465-8136.
SOURCE Hagens Berman Sobol Shapiro LLP