Wyeth and Wyeth Pharmaceuticals, Inc. Premarin Exclusive Rebate Contract Class Action Settlement

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Wyeth and Wyeth Pharmaceuticals, Inc.

New York, NY: (Jun-13-07) A class action lawsuit was filed against Wyeth and Wyeth Pharmaceuticals, Inc., the manufacturer of Premarin, by a California class of consumers and third party payers who purchased or paid for Premarin dispensed pursuant to prescriptions. The suit claimed that Wyeth and Wyeth Pharmaceuticals violated a number of California laws concerning unfair competition. Plaintiffs claim that Wyeth entered into exclusive rebate contracts with managed care organizations such as HMOs, insurance companies, and pharmacy benefit managers.

The class was comprised of all persons or entities that, during the period from March 24, 1999 to April 3, 2007, purchased, paid for, or reimbursed for Premarin purchased in the state of California for consumption by themselves, family members or covered individuals and who suffered economic loss thereby as a result of allegedly anticompetitive conduct by Defendants. Though Wyeth denied any wrongdoing, it agreed to pay $5.2 million to settle this case. [BUSINESS WIRE: PREMARIN FRAUD]