What is the Dementia / Alzheimer's Medication Class Action About?
A $56 Million Class Action Settlement has been settled with pharmaceutical companies that manufacture and market certain Alzheimer's disease medications. The class action lawsuit alleged that pharma companies including Actavis, Merz, Teva, Dr. Reddy's, and Wockhardt conspired intentionally to keep generic versions of Alzheimer's medication off the shelves in order to drive up the cost of Namenda Alzheimer's medication. In the United States, the generic version of Namenda Alzheimer's disease drug is also known as Memantine.
The class action lawsuit stipulates that the pharmaceutical companies colluded together in order to achieve more profits through illegal price fixing schemas and the forming of a monopoly through closed-door agreements that violate certain consumer protection laws.
Dementia and Alzheimer's Disease
Dementia, Alzheimer's, and Lewy Body Dementia are brain diseases that affects the cognitive and everyday function of individuals, affecting an array of functions such as memory, reasoning, logic, balance, path-finding, and more. Dementia and Alzheimer's affects caregivers significantly as well as the individual with the disease. For more information on Alzheimer's and Dementia treatments and how to cope with your Loved One being diagnosed with the disease please reach out here for more information.
How Do I Qualify?
You are a Class Member of the Alzheimer's Namenda medication class action settlement if you purchased or paid for certain Alzheimer's drugs. The dates the purchase or reimbursement must have been are anytime from April 14, 2010 through December 31, 2017. The following products or Alzheimer's medications qualify for payout from the Namenda class action lawsuit:
• Namenda IR
• Namenda XR
• "AB-Rated" Generic versions
AB-Rated generic drug version refer to medicines that have been licensed legally in the United States, and have been authorized for sale, containing the same active ingredient as the brand name version of the drug. In this case, "Namenda" is the brand name of the drug. More details about which pharmaceutical companies released generic or brand name versions of the drugs are included below.
Third party payors (or TPP's) such as insurance companies may also qualify to be paid out from the more-than $56 Million Namenda Alzheimer's Class Action if they fit the above requirements.
Who Are the Alzheimer's Drug Company Defendants in the Class Action?
It should be noted that there has been no claim made that Namenda is unsafe or ineffective. The class action lawsuit alleges that these companies violated anti-trust laws that aimed to increase prices artificially for consumers, patients, and insurers, by blocking the release of generic competitors who could drive down brand name (Namenda) drug prices.
The following pharmaceutical companies have agreed to settle the $56 Million Settlement:
Brand Name Drug Defendants
• Forest Laboratories (subsidiary of Actavis),
• Merz Pharmaceuticals,
Generic (Memantine) Drug Defendants
• Barr Pharmaceuticals, Inc.,
• Cobalt Laboratories, Inc.,
• Teva Pharmaceutical Industries, Ltd.,
• Dr. Reddy's Laboratories, Inc. & Ltd.,
• Wockhardt Limited and Wockhardt USA LLC,
• Amneal Pharmaceuticals LLC,
• Sun Pharmaceutical Industries Ltd.,
• Upsher-Smith Laboratories, LLC,
What Can I Get?
The Alzheimer's and Dementia Class Action provides for over $56 Million in settlement funds. The Brand defendants (Namenda) will pay $54.4 Million. The Generic (Memantine) defendants will pay $2,038,000 towards the settlement payouts. Part of the funds will go towards lawyer fees, court fees, and administrative expenses. This amount is generally not more than 30% of the total settlement amount agreed upon in the class action.
To get paid, you must belong to one of the two class action groups that were affected according to the settlement terms:
Generic Class Action Members
Anyone who purchased or paid indirectly for part or the whole purchase price of:
• 5 mg Namenda IR tablets
• 10 mg Namenda IR tablets
• Generic "AB Rated" equivalent tablets
• Namenda XR
Third Party Payors
Those who indirectly purchased or paid for part or the whole purchase price of the same tablets as above in the following U.S. states:
• District of Columbia
• New Hampshire
• New Mexico
• New York
• North Carolina
• North Dakota
• Rhode Island (purchases after July 15, 2013)
• South Dakota
• West Virginia
• Wisconsin (purchases between June 1, 2012 and December 31, 2017)
What If I Don't Qualify for the Alzheimer's Class Action Lawsuit?
Look for other Class Action Settlements you do qualify for by getting notified of new ones as they are reported here.
Filing Class Action Lawsuit Claims
Please note that your claim form will be rejected if you submit a a settlement claim for payout with any fraudulent information. By providing this information and your sworn statement of its veracity, you agree to do so under the penalty of perjury. You would also be harming others that actually qualify for the class action settlement. If you are not sure whether or not you qualify for this class action settlement, visit the class action administrator's website below. OpenClassActions.com is only providing information and is not a class action administrator.
How Do I File a Claim?
To be eligible to receive a payment from the $56 Million Class Action Settlement, you must complete and submit a timely Claim Form by February 03, 2023 by following the submit claim from button located at the bottom of the page.
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