KANSAS CITY, Kan. (AP) — Pfizer Inc. and two of its subsidiaries have agreed to pay $345 million under a proposed settlement to resolve lawsuits over EpiPen price hikes.
In documents filed Thursday in federal court in Kansas City, Kansas, New York-based Pfizer and its subsidiaries Meridian Medical Technologies Inc. and King Pharmaceuticals, which is based in Tennessee, asked the court to grant preliminary approval to the settlement, Kansas City’s NPR station KCUR-FM reported.
The litigation dates to 2016, when numerous class-action lawsuits were filed around the country alleging that the companies engaged in anticompetitive conduct related to EpiPen. The cases were transferred to the Kansas court because of its centralized location.
Mylan, which is based in Maryland, owns the rights to the EpiPen brand, but the devices are manufactured by Pfizer.
EpiPens, which are auto-injectable devices that deliver the drug epinephrine, are used for emergency treatment of a life-threatening allergic reaction known as anaphylaxis.
When Mylan acquired the right to market and distribute the devices in 2007, an EpiPen package cost about $100. Today, it costs more than $650 without pharmacy coupons or manufacturer discounts.