The lawsuit claimed that Celgene’s monopolization of the market for two lifesaving cancer drugs has cost cancer patients millions of dollars.
The suit centered on the increasing prices of Revlimid and Thalomid, used to treat multiple myeloma, a cancer that forms in the blood.
Plaintiffs argued that the prices of the two drugs were higher than they would’ve been in a competitive market.
“I hope this settlement brings some financial relief to the individuals and families who need it, and serves as a warning to other corporate CEOs not to put profits over patients in the way that [Former Celgene CEO] Bob Hugin did for so long,” Sen. Bob Menendez (D-N.J.), told The New Jersey Globe.
More articles on pharmacy:
Oklahoma opioid trial wraps: 10 takeaways
Drugmaker tried to shred records before FDA inspection, agency claims
Publix Pharmacy to deliver prescriptions to patients before hospital discharge
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
