Pfizer To Pay $345M To Resolve EpiPen Pricing Lawsuit: Reuters

Pfizer Inc PFE has agreed to pay $345 million to resolve claims by consumers claiming they overpaid for EpiPens due to anti-competitive and unfair practices, reports Reuters.
The proposed class action settlement was disclosed in a filing in federal court in Kansas City, Kansas.
The deal, which requires a judge's approval, would not resolve claims against Mylan, which is scheduled to face trial in January.
Pfizer, which did not admit wrongdoing, did not immediately respond to a request for comment.
The EpiPen is a handheld device to treat allergic reactions by automatically injecting a dose of epinephrine.
The litigation followed a public outcry in 2016 after Mylan, which owns the rights to market and distribute the devices, raised the price of a pair of EpiPens to $600, from $100 in 2008, putting it in the center of an ongoing U.S. debate over the high cost of medicines.
The settlement came after U.S. District Judge Daniel Crabtree last month dismissed much of but not all of the claims against Mylan.
Price Action: PFE shares are up 0.02% at $40.09 during the premarket session on the last check Friday.
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