Pfizer Settles Lipitor Antitrust Lawsuit With $93 Million Payout

Pfizer Inc. has agreed to pay $93 million to settle an antitrust lawsuit accusing the pharmaceutical giant of conspiring to delay sales of generic versions of the blockbuster cholesterol drug Lipitor.

The class settlement, announced in a motion filed Wednesday, is the culmination of more than a decade of multidistrict litigation brought by drug distributors in US District Court for the District of New Jersey. The distributors, including Burlington Drug Co. Inc. and Rochester Drug Co-Operative Inc., claimed Pfizer illegally paid pharmaceutical company Ranbaxy Laboratories to delay marketing generic versions of Lipitor and engaged in fraud when attempting to extend ...