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Cases and Engagements
March 28, 2015
In Re: TriCor Direct Purchaser Antitrust Litigation
The plaintiffs in this case are a class of direct purchasers of the brand-name prescription drug Tricor. They alleged that the defendants violated antitrust laws by improperly delaying the market entry of cheaper generic substitutes to Tricor (which is used to treat high cholesterol).
Econ One was retained by the plaintiffs’ counsel to opine regarding class certification issues and the calculation of damages. Jeffrey Leitzinger submitted three expert reports and was deposed twice in this matter. The first report related to class certification issues which included: (1) the likely impact of a delay in generic competition on the class; (2) the availability of economic methodologies and evidence, common to all class members, that would demonstrate impact in the form of overcharges; and (3) whether overcharge damages could be calculated on a class-wide, aggregate basis using reliable methodologies. Dr. Leitzinger also submitted an initial report and a rebuttal report addressing relevant market and market power, as well as aggregate class overcharge damages. The direct purchaser class claims were settled prior to trial and Dr. Leitzinger submitted a proposed allocation plan for damages to the court in support of the settlement. The court approved both his damages and allocation methodologies as fair and reasonable.