|[April 21, 2014]
$64 Million Baxter Settlement Brings Plasma-Derivative Protein Antitrust Cases to a Conclusion: Total Awards of $128 Million
CHICAGO --(Business Wire)--
A federal judge last week granted final approval of the $64 million
settlement between plaintiffs in a blood plasma derivatives price-fixing
case against Baxter International, Inc., and Baxter Healthcare
Corporation. This marks the final settlement in In Re
Plasma-Derivative Protein Therapies Antitrust Litigation and brings
the total amount recovered by Plaintiffs to $128 million.
Earlier this year, U.S. District Judge Joan B. Gottschall, Northern
District of Illinois, also approved a settlement between plaintiffs and
defendants CSL Limited, CSL Behring LLC, CSL Plasma Inc., and the Plasma
Protein Therapeutics Association in the identical amount of $64 million.
The case involves allegations that between 2003 and 2009 the companies
ageed to restrict the supply of the blood plasma derivatives
immunoglobulin and albumin, and thereby increase the prices of those
therapies, according to attorneys at Cohen Milstein Sellers & Toll PLLC
and Williams, Montgomery & John Ltd.
Co-Lead Counsel Charles Tompkins, of Williams, Montgomery & John Ltd,
said of the settlements, "the result obtained on behalf of the corporate
clients we represent here is one that fairly compensates them for the
losses they suffered without the need for further protracted litigation."
Added Co-Lead Counsel Richard Koffman, of Cohen Milstein, "the
resolution of this litigation is an outstanding result that achieves
justice for more than 2,000 class members. The settlements have been
very well received by the many class members to whom I have spoken,
which I find deeply gratifying."
The case is In re Plasma-Derivative Protein Therapies Antitrust
Litigation, No. 09 C 7666, http://www.cohenmilstein.com/cases/191/plasma-derivative-protein-therapies-blood-plasma
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