Pfizer $35M Lipitor Antitrust Settlement: Award Calculator

Will Gendron
Editor in Chief
Published
July 6, 2024 12:26 PM
Updated
July 24, 2024
Pfizer $35M Lipitor Antitrust Settlement: Award Calculator
Settlement Open for Claims
Award:
Varies ($10 minimum)
Deadline:
November 29, 2024
SUBMIT CLAIM

If you purchased, paid, or provided reimbursement for some or all of the purchase price of branded Lipitor® or generic atorvastatin calcium, you may be eligible to claim a portion of a $35 million settlement.

Pfizer has agreed to pay $35,000,000 to settle a class action lawsuit for alleged antitrust violations, consumer protection violations, and unjust enrichment by keeping generic versions of Lipitor off the market.

Can I Claim an Award?

There are two settlement classes: the “Consumer Class” or the Third-Party Payor (TPP) Class in one of the following states:

Class States

  • Arizona
  • California
  • District of Columbia
  • Florida
  • Iowa
  • Kansas
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Oregon
  • South Dakota
  • Tennessee
  • West Virginia
  • Wisconsin

Consumer Class

You are a member of the Consumer Class if you qualify if you an individual who is one of the Class States, purchased, paid, and/or provided reimbursement for some or all of the purchase price of:

  • Branded Lipitorsome text
    • without the use of a Pfizer co-pay card
    • between June 28, 2011 and November 29, 2011
  • Generic Atorvastatin Calciumsome text
    • Between November 30, 2011 and December 31, 2012

Excluded from the Consumer Class are:

  • Individuals who only purchased through a Medicare Part D or Medicaid Plan
  • Individuals who only purchased branded Lipitor after November 30, 2011, and did not purchase generic atorvastatin calcium
  • Any “flat copay” consumer who purchased Lipitor only via a fixed dollar copayment that does not vary on the basis of the drug’s status as brand or generic

Third-Party Payor (TPP) Class

You are a member of the TPP Class if you are an entity that, for consumption by its members, employees, insureds, participants, or beneficiaries, purchased, paid, and/or provided reimbursement for some or all of the purchase price of branded Lipitor or generic atorvastatin calcium, other than for resale, at any time during the period from June 28, 2011, through and until December 31, 2012.

Excluded from the TPP Class are:

  • Pfizer, Ranbaxy, and their respective subsidiaries and affiliates
  • Federal and state governmental entities
  • Medicare Part D Plans
  • Medicaid Plans

How Much Can I Claim?

The amount each individual or entity receives depends on the “Net Settlement Fund” amount, which will be determined according to Plaintiffs’ proposed Plan of Allocation, if approved by the Court.

Pfizer has agreed to pay $35 million into an interest-bearing escrow account for the benefit of the Classes. The Settlement Fund will be used for:

  • Attorneys’ fees of up to 34% of the Settlement Fund, plus costs and expenses
  • Notice and administration costs and expenses
  • Service awards of up to $15,000 to the nine Class Representatives
  • Then, payments to eligible class members (the “Net Settlement Fund”)some text
    • Consumer Class = 20.3% of Net Settlement Fund
    • TPP Class = 79.7% of Net Settlement Fund

How is the Net Settlement Fund calculated?

Settlement Fund Amount: $35,000,000

Less court-approved attorneys' fees: 34% × $35 million = ($11,900,000)

Less service awards "up to $15,000 each for the Class Representatives". There are 9 named Class Representatives listed. So, the maximum for service awards would be: 9 × $15,000 = ($135,000)

Less fees and costs for notice, claims administration, and escrow: This amount is not specified, so we will ignore it for now

Net Settlement Fund = $22,965,000 (before fees and costs for notice, claims administration, and escrow)

Hypothetical Consumer Class Award Calculation

Consumer Class Fund is 20.3% of the Net Settlement Fund

20.3% × $22,965,000 = $4,661,895

Consumer Class Fund = $4,661,895

For a hypothetical consumer with a $100 claim:

Pro rata share = ($100 / $10,000,000) × $4,661,895 = $46.62

So, in the hypothetical example where there are $10 million of consumer claims, and a consumer has a $100 claim, they will receive $46.62 before fees and costs for notice, claims administration, and escrow is subtracted from the net settlement fund.

Is Proof Required to Claim the Reward?

Yes, proof is required to claim the reward. Claimants must provide documentation of at least one purchase of branded Lipitor and/or one purchase of generic Lipitor. The amount you may recover will depend on whether you purchased branded Lipitor, generic Lipitor, or both branded and generic Lipitor. Therefore, if you purchased both branded and generic Lipitor, you should provide documentation of at least one purchase of each.

How to Claim Your Award

To claim your award, you must complete and submit a valid Claim Form. You can get a Claim Form here, by calling 1-888-831-7612, or by writing to the Claims Administrator at info@LipitorAntitrustSettlement.com or at the address below:

Claims Administrator 54388  

P.O. Box 2694  

Portland, OR 97208-2694

Claim Forms must be received (if submitted online) or postmarked (if mailed to the address above) by November 29, 2024.

How do I Get Paid?

Payments will be made to eligible Class Members after the Court approves the Settlement and any appeals are resolved. The Claims Administrator must also complete its processing of all Claim Forms and determine distribution amounts. This process can take several months.

Important Dates

  • Fairness Hearing: October 1, 2024
  • Deadline to File a Claim: November 29, 2024

When will Awards be Paid?

Awards will be paid after the Court approves the Settlement and any appeals are resolved.

Why is there a Class Action Settlement?

The lawsuit claims that Pfizer and Ranbaxy unlawfully kept generic versions of Lipitor off the market, so consumers and third-party payors paid more for brand and generic Lipitor than they should have. Pfizer and Ranbaxy deny that they did anything wrong.

What Happens Next?

The Court will hold a Fairness Hearing on October 1, 2024, to consider whether the settlement with Pfizer is fair, reasonable, and adequate. If the Court approves the settlement, payments will be made to eligible Class Members after the Court approves the Settlement and any appeals are resolved.

Notice Letter

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Status
Open for Claims
Category
Antitrust
Settlement Amount
$35,000,000
Award
Varies ($10 minimum)
Is Proof Required?
Proof Required
Proof Required
Days Remaining to file Claim
128
Claim Deadline
November 29, 2024
Fairness Hearing
October 1, 2024
Final Approval Hearing
Case Number
3:12-cv-2389-PGS-JBD
Case Title
In re Lipitor Antitrust Litigation
State
Court
Jurisdiction
Claims Administrator
Claims Administrator 54388 P.O. Box 2694 Portland, OR 97208-2694 1-888-831-7612 info@LipitorAntitrustSettlement.com
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