Magazine article Drug Topics

Antitrust Settlement Expected to Be Slow in Distributing Company

Magazine article Drug Topics

Antitrust Settlement Expected to Be Slow in Distributing Company

Article excerpt

Bob Gude, president of the Pharmacy Freedom Fund (PFF), has a ready answer when past and present owners ask when they will get their share of the $723 million price-fixing lawsuit settlement. "Don't expect a check before summer of 2000; ' is his response. "And I'm not saying you'll get it in the summer of 2000. I'm just saying don't expect it before then."

Approval of a formula for distributing the monies that 20 brand-name drugmakers paid to halt the legal salvos launched by PFF, the Pharmacy Defense Fund, and others in 1993 is at least the beginning of the end. U.S. District Court Judge Charles P Kocoras ruled last month that the majority of the proceeds will go to independent and chain store owners in the antitrust class action "in direct proportion to the amount of brandname prescription drugs each purchased from Oct. 13, 1989, to Feb. 9, 1995" (see Drug Topics, Sept. 6). IMS Health has sales records that both the National Association of Chain Drug Stores and the National Community Pharmacists Association agree are accurate, so claimants will not have to provide proof of their purchases. …

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