TRENTON
-- Attorney General Peter C. Harvey today
announced that the State of New Jersey,
in concert with the Attorneys General
of all 50 states, the District of Columbia
and Puerto Rico, has reached a proposed
multi-million dollar settlement of a nationwide
anti-trust class action lawsuit involving
Bristol-Meyers Squibb to reimburse consumers
some portion of alleged overcharges they
may have incurred from purchasing BuSpar
or buspirone HCI from 1995 - 2003.
"Today's
settlement is part of New Jersey's continuing
efforts through the Division of Criminal
Justice - Financial Crimes Bureau and
the newly created Antitrust and Procurement
Initiative to protect New Jersey consumers
and government agencies from those corporations
that would conspire to monopolize certain
sectors of the marketplace for financial
gain," Harvey said. "This settlement
is a significant victory for the State
of New Jersey and its residents and will
help compensate consumers and certain
state agencies for purchase overpayments
of the drug."
According to Attorney General Harvey,
the complaint, filed on behalf of New
Jersey consumers and state agencies by
the Division of Criminal Justice - Financial
Crimes Bureau, alleges that Bristol-Meyers
Squibb, the makers of BuSpar or buspirone
hydrochloride, engaged in fraudulent conduct
which included conspiring with a potential
competitor to prevent the entry of the
generic drug into the marketplace. The
alleged conduct was part of an overall
attempt by Bristol-Meyers Squibb to illegally
maintain a monopoly in the U.S. over the
sale of the drug. BuSpar is a brand-name
prescription medication used to treat
patients suffering from Generalized Anxiety
Disorder (GAD). According to the National
Institute of Mental Health, approximately
four million Americans nationwide suffer
from GAD each year. BuSpar is also used
to treat other anxiety disorders, as well
as Alzheimer's Disease.
The national lawsuit determined that generic
alternatives would make a significant
difference in the cost of GAD treatment
for many consumers. A recent study found
that an average 30-day supply of brand
name BuSpar could cost approximately $141.80,
while its generic version would cost $48.46
- a savings of $93.34 per month. For insured
claimants, reimbursement may include some
portion of the co-payments which are often
higher for brand-name drugs than for generic
alternatives.
Vaughn L. McKoy, Director, Division of
Criminal Justice, noted that the national
settlement provides approximately $41.7
million to reimburse consumers and state
agencies some portion of alleged overcharges
they may have incurred from purchasing
BuSpar from Jan. 1, 1998 through Jan.
31, 2003. For the uninsured, reimbursement
could include compensation for a portion
of the out-of-pocket expense of purchasing
BuSpar.
The National Association of Attorneys
General is spearheading a nationwide effort
to contact BuSpar consumers. The nationwide
effort was launched today and requires
consumers to present proof of purchase
or other documented history of pharmaceutical
purchases in order to file a claim. Claims
must be filed by Oct. 10, 2003. Affected
BuSpar consumers who do not wish to participate
in the settlement must exclude themselves
in writing by Oct. 10. Claim forms and
complete information can be obtained at
www.busparsettlement.com
or by calling the BuSpar toll-free hotline
at 1-800-678-9587.
Assistant Attorney General Andrew Rossner
and Deputy Attorney General Basil Merenda
of the Division of Criminal Justice, Financial
Crimes-Antitrust Bureau, coordinated New
Jersey's participation in the national
lawsuit.
###
