Celgene to pay $55 million over antitrust case

24 July 2019

US biotech Celgene (Nasdaq: CELG) has agreed to pay $55 million to settle a class action lawsuit over alleged attempts by the drugmaker to block generic competition.

Celgene was accused of monopolizing the market for the multiple myeloma drugs Thalomid (thalidomide) and Revlimid (lenalidomide), allowing the company to repeatedly raise prices.

The settlement is one of the largest pharmaceutical settlements on behalf of end payors in an antitrust case in the last decade.

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