Viatris to pay $264M to settle EpiPen lawsuit

Viatris, a drugmaker formerly known as Mylan Pharmaceuticals, on Feb. 28 agreed to pay $264 million to settle a class-action lawsuit over EpiPen pricing, The Hill reported.

Four things to know:

  1. The lawsuit accuses Viatris of using its monopoly on EpiPen auto-injectors to raise the cost excessively.

  2. The agreement is awaiting the court's approval. If it is approved, Viatris would admit no wrongdoing.

  3. EpiPens are manufactured by two Pfizer subsidiaries — King Pharmaceuticals and Meridian Medical Technologies — and sold by Viatris in the U.S. In July, the subsidiaries agreed to pay $345 million to settle EpiPen price hike allegations.

  4. "The company maintains that it acted lawfully and pro-competitively and the settlement contains no admission of liability," Viatris said in its quarterly earnings report. "The board of directors believes that this settlement is in the best interests of the company and its stakeholders."

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