On July 31, 2012, Cohen Milstein was appointed Co-Lead Counsel of a class of indirect purchasers of Lipitor—the best-selling drug in the history of the pharmaceutical industry, with billions of dollars in annual sales. Plaintiffs allege that Defendant Pfizer, the manufacturer of Lipitor, conspired with Ranbaxy, a manufacturer of generic Lipitor, to allow Pfizer to monopolize the market for Lipitor more than 20 months after Pfizer’s allowable period of patent exclusivity. Plaintiffs further allege that Defendants Pfizer and Ranbaxy conspired to divide up the world-wide market for Lipitor and share the monopoly profits.
On October 19, 2012, Co-Lead Counsel successfully defeated a motion to stay discovery pending resolution of the anticipated motions to dismiss. Since the Supreme Court’s ruling in Twombly, efforts by antitrust plaintiffs to obtain any discovery prior to a ruling on the motion to dismiss have been largely ineffective. Cohen Milstein’s successful effort to defeat Defendants’ assertions of burden and obtain limited discovery will allow the Lipitor Plaintiffs to investigate their claims during the pendency of the motion to dismiss and better position the putative class to actively litigate the case once discovery commences in full.