Americans who paid for certain generic prescription drugs between 2009 and 2019 could be eligible to claim money from a combined $533 million settlement. The claim deadline is November 9, leaving eligible consumers only a short time to submit their forms.
Who Could Qualify For The Prescription Settlement?
The settlements cover consumers and third-party payers who purchased certain generic drugs during the relevant period. Consumers who paid all or part of the cost of an eligible medication between May 1, 2009, and December 31, 2019, may qualify for a share of the consumer settlement funds.
A copay can count as a qualifying payment. People whose medication was fully covered by Medicaid are excluded. The consumer settlements are available to residents of every US state except Indiana and Ohio, as well as people in Washington, DC, Puerto Rico and the US Virgin Islands.
Nearly 200 Generic Drugs Are Included
The settlement covers 197 generic drugs, including tablets, creams, ointments and injectable medicines. Some of the drugs listed include: Albuterol; Amphetamines; Gabapentin; Levothyroxine and Methadone HCL.
Consumers need to check the official drug list to establish whether a medication they purchased is covered by the settlement.
Why Are Pharmaceutical Companies Paying?
The settlements relate to allegations that several pharmaceutical companies coordinated to fix prices and restrict competition involving generic medicines.
The companies named in the settlements include Sandoz Inc., Fougera Pharmaceuticals, Sun Pharmaceutical Industries, Taro Pharmaceuticals USA, Heritage Pharmaceuticals, Emcure Pharmaceuticals and Apotex.
The companies have denied wrongdoing. They agreed to settlements to resolve the allegations without admitting liability.
How Much Money Is Available To Consumers?
The total settlement funds amount to $533 million. Sandoz and Fougera Pharmaceuticals agreed to pay $275 million, while Sun Pharmaceutical Industries and Taro Pharmaceuticals agreed to pay $200 million.
Heritage Pharmaceuticals, Emcure Pharmaceuticals, Apotex and an individual defendant agreed to pay a further $58 million. Of the total, $475 million is available to consumers through the Sandoz and Sun/Taro settlements.
The remaining funds are reserved for third-party payers. There is currently no fixed payment amount per person. The amount each successful claimant receives will depend on factors including the number of eligible drugs purchased and the number of valid claims submitted.
Proof Of Purchase Is Required
Consumers filing a claim must provide evidence showing that they purchased the relevant medication. Accepted documentation can include receipts, invoices or account statements.
Claimants need to provide proof for each drug they are claiming. The settlement administrator will use the submitted information when determining eligibility and the eventual payment.
How Can Claimants Receive Their Money?
Eligible consumers can choose from several payment methods. These include: ACH direct deposit; Zelle; PayPal; Venmo and Paper check.
Claimants should ensure their payment details are entered correctly when submitting their form.
The Claim Deadline Is November 9
The deadline for eligible consumers to submit a claim is November 9. Anyone who believes they purchased one of the covered generic drugs during the qualifying period should check the official settlement information and drug list before submitting a claim.
Because the final payment depends on the number of valid claims and the qualifying purchases reported, there is no guarantee of a specific payout amount for individual consumers.
