A Massachusetts federal judge gave her initial approval Thursday to Impax Laboratories Inc.’s $20 million midtrial settlement with a class of consumers and insurers that claimed the lab delayed the launch of a generic acne medicine in exchange for a $40 million payment.
Pending a fairness hearing where class members can object to the deal, U.S. District Judge Denise J. Casper gave her preliminary approval for the $20 million payout to a settlement fund for consumers and insurers who paid for Solodyn. The suit claimed Impax waited three years to launch its generic version of Solodyn after reaching an agreement in 2008 with Medicis Pharmaceutical Corp., the maker of the brand-name drug.
Judge Casper said the settlement “was concluded after arm’s-length negotiations by experienced counsel on behalf of the certified end-payor class.”
“Because the parties reached the settlement as a result of good faith negotiations and after sufficient discovery, a presumption of fairness attaches to the settlement,” she said.
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Cohen Milstein is a member of the Plaintiffs' Executive Committee in In re Solodyn Antitrust Litigation.