Johnson & Johnson (JNJ) Units to Pay $65 Million in Tracleer Antitrust Class Action Settlement, Reuters Reports

Johnson & Johnson (NYSE:JNJ) is one of the top stocks that will make you rich in 10 years.

Reuters reported on March 5 that two Johnson & Johnson (NYSE:JNJ) units have agreed to pay $65 million for the settlement of a proposed antitrust class action by health plans and others claiming they were ​overcharged for the pulmonary hypertension drug Tracleer. The plaintiffs included the Government Employees Health Association and other entities that paid or ​provided reimbursement for the use of Tracleer by their members, and alleged in their lawsuit that competition for a generic version of the medication was delayed by the drugmakers. The ‌lawsuit ⁠alleged the drugmakers obstructed competitor access to samples of Tracleer, which they said “effectively blocked competitors from bringing a competing generic product to market for a period of time.”

The preliminary settlement with Actelion Pharmaceuticals and ‌Janssen Research & Development was filed in the federal court in Maryland, with the proposal requiring approval from a judge. Reuters further stated that Actelion ⁠made billions of dollars in profits from selling Tracleer, which is an oral treatment for pulmonary ​artery hypertension, and was acquired by Johnson & Johnson (NYSE:JNJ) in 2017. Johnson & Johnson (NYSE:JNJ) did not immediately respond to Reuters’ request for a comment on the matter.

Johnson & Johnson (NYSE:JNJ) develops, manufactures, and sells products in the healthcare field. The company operates through two segments: Innovative Medicine and MedTech. The Innovative Medicine segment focuses on various therapeutic areas, including oncology, infectious diseases, immunology, cardiovascular and metabolic diseases, and others. The MedTech segment includes an elaborate range of medical devices and products used in cardiovascular intervention, orthopedics, interventional solutions, surgery, and vision fields.

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