November 08, 2024
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Drug companies, states settle class-action suit

Consumers from Maine and 17 other states who purchased the prescription drug Hytrin or its generic form terazosin are eligible for a refund, according to an announcement Friday from the office of Maine Attorney General Steven Rowe.

The drug is used to treat high blood pressure and enlarged prostate. The brand name product is manufactured by Abbott Laboratories and the generic by Geneva Pharmaceuticals.

In a class-action suit filed in a Florida federal court, 18 states charged Abbott with wrongfully paying Geneva to delay the rollout of generic terazosin, blocking the availability of the less costly medication. The suit also charged Abbott with taking other illegal steps to delay competition, according to Friday’s announcement.

Under a settlement agreement subject to final court approval, the two drug companies will provide $28.7 million for refunding consumers and health insurers. Another $2 million will be used to reimburse state agencies for the costs associated with filing the lawsuit.

The settlement will benefit consumers who purchased the drug between October 15, 1995, and March 7, 2005. The amount refunded to each consumer will depend on how many claims are filed.

Claims forms can be obtained online at www.terazosinlitigation.com or by calling toll-free (877) 886-0283.


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