Tricor Antitrust Litigation
Berger & Montague represented a Class of pharmaceutical wholesalers and pharmacies, charging Abbott Laboratories and Fournier Industrie et Sante, two brand-name pharmaceutical companies, with monopolizing the market for the cholesterol drug Tricor and its generic equivalents.
Plaintiffs claimed that Defendants had violated the antitrust laws through a practice known as “product hopping,” which involves repeatedly coming out with new (and unimproved) versions of a brand name drug while pulling the old version off the market as a means to defeat generic competition.
After more than three years of litigation and the commencement of trial, the direct purchaser Class settled with both defendants for $250 million. This settlement was granted final approval by the court in early 2009.