Celgene backs out of $55M settlement over alleged efforts to thwart generics

Bristol-Myers Squibb (BMY +0.5%) unit Celgene has apparently backed out of a $55M settlement that it agreed to in July 2019 over its activities to delay generic encroachment on Revlimid (lenalidomide) and Thalomid (thalidomide).

Class action plaintiffs accused the company of using a mandated safety program to deny samples of the drugs to generic firms, preventing them from conducting equivalency studies to support marketing applications and enabling it to maintain high prices.

https://seekingalpha.com/news/3530515-celgene-backs-out-of-55m-settlement-over-alleged-efforts-to-thwart-generics