In a significant development for the pharmaceutical industry, Pfizer Inc. has reached a $93m settlement in relation to the long-running Lipitor multidistrict litigation, one of the most sprawling antitrust cases in recent history. The company’s latest legal move seeks to resolve the decade-long allegations made by Lipitor purchasers about anti-competitive practices surrounding the cholesterol medication.
The milestone agreement, news of which surfaced through a recent legal motion filed in New Jersey federal court, sees Pfizer responding decisively to claims made by Lipitor buyers who have been embroiled in this multidistrict litigation over the course of more than ten years.
This concludes yet another chapter in Pfizer’s legal history, and notably so for Lipitor buyers who have been seeking a resolution to this matter for a considerable amount of time. It remains to be seen what impact this will have on future antitrust ligation in the pharmaceutical industry, and whether Pfizer’s settlement will set a new bar for dispute resolution in similar cases.