Epi Pen Payments are finally making rounds and putting smiles on some people's faces.
Nothing is better than the taste of Justice when you finally get that class action settlement. The problem is that most of the settlements are so small that the time to deposit the check or cash the $2.37 payment from 100 Billion dollar corporation does not get you excited. There are other times when the payment size is at least worth depositing, and you may even pay for a nice dinner at Outback Steakhouse.
EpiPen maker finalizes settlement for government overcharges https://t.co/hp5J5kW5PT pic.twitter.com/kyhjBK9dls
— FOX Business (@FoxBusiness) August 18, 2017
This week relieved parents are sharing their checks and letting more and more people know about Class Action lawsuits. In 2022 Class Actions and Mass Tort Settlements reached a record 63 Billion, according to Forbes.
Here are a few happy readers, that are sharing their checks and deposits.
Payouts were based on the amount claimants paid for EpiPen products. Eighty percent of the settlement funds were allocated to third-party payor compensation, and the remaining 20 percent of the funds were allocated to individual patients and consumers. Some claimants reported receiving significant payments, with one recipient reportedly receiving over $3,363 and others receiving hundreds in checks and digital payments.
EpiPens, an allergic reaction-reversing drug, has been a crucial life-saving tool for individuals with severe allergies. However, they have also been controversial due to their high price. In 2007, a two-pack of EpiPens cost about $95. This price increased significantly over the years, and by 2016, the same two-pack cost more than $500, even after applying a coupon. This steep price hike forced many customers, who needed the medication for emergencies, to make tough financial decisions.
Class lawyers seek $88 mln in fees in EpiPen antitrust settlement https://t.co/fpCosn2e94 pic.twitter.com/D2zgnmmrxD
— Reuters (@Reuters) May 24, 2022
Payments were made in the form of choice via a digital payment portal: virtual prepaid MasterCard, PayPal, direct deposit, or Venmo. Claimants were sent emails that included a live link to redeem the digital payment and information regarding the payment amount.
It's important to note that the Epipen Class Action Settlement is officially closed to new claims, and payments are expected to start in June 2023. Those who qualified for the settlement would have needed to file a claim by July 25, 2022.
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Overall, the EpiPen settlement is a notable moment in the ongoing debate over drug pricing. While it does not resolve all the issues, it does bring some measure of justice and compensation to those who felt the financial strain of purchasing this essential drug. As the conversation continues, it serves as a reminder of the need for fair pricing and competition in the pharmaceutical industry.
This case represents a significant moment in antitrust litigation, highlighting the growing concerns about competition in the meat industry and the impact on prices. As the fallout from this case continues, it serves as a reminder of the importance of fair competition and transparency in all industries.
Please note while this blog post covers the major details of the settlement, additional details may emerge or change as the case progresses and as more settlements are potentially added to the fund. As such, it is always a good idea to keep up to date with the latest developments in the case.