In re TriCor Antitrust Litigation
In May 2005, Louisiana Wholesale Drug Company, and a class of similarly situated direct purchasers of the prescription drug TriCor (“the Direct Purchasers”), filed an antitrust lawsuit against Abbott Laboratories and Laboratoire Fournier.
The lawsuit accused the defendants of launching frivolous lawsuits and exploiting their market position to keep generic versions of TriCor off the market by making subtle reformulations to TriCor and withdrawing previous TriCor versions from the market, therebyprecluding generic competition. The lawsuit alleged that Abbott’s reformulations did not change the effectiveness of the drug, and constituted anti-competitive behavior. The defendants agreed to settle the case during trial in late 2008.
The final settlement approved by the court in 2009 resolved the drug vendors’ claims that Abbott and its French partner Fournier Industrie et Sante conspired to block generic pharmaceutical companies from breaking into the lucrative fenofibrate market. Russell A. Chorush acted as counsel for Louisiana Wholesale Drug Company and similarly situated direct purchasers in this litigation.