Feb 28 (Reuters) - Viatris Inc, the drugmaker formerly known as Mylan, said on Monday it had agreed to pay $264 million to resolve a class action lawsuit alleging it engaged in a scheme to delay generic competition to its EpiPen allergy treatment.
The proposed settlement would resolve litigation that began following public outrage in 2016 over Mylan's decision to raise the list price for a pair of EpiPens to $600, from $100 in 2008, helping fuel a debate about rising U.S. drug costs.
The case, brought on behalf of consumers and third-party payers like insurers, until recently was slated to go on trial this month, with the plaintiffs seeking $1 billion in damages, a sum that under some state antitrust laws could be multiplied.
The lawsuit accused Mylan and Pfizer, which manufactured the EpiPen for Mylan, of engaging in wide-ranging anticompetitive conduct that allowed them to maintain a monopoly over the market for the devices.
But U.S. District Judge Daniel Crabtree in Kansas City, Kansas, last year dismissed much of the case against Mylan, leaving only a claim concerning a 2012 patent litigation settlement with generic drugmaker Teva Pharmaceutical Industries Ltd.
Viatris said the settlement, which is pending court approval, does not contain any admission of liability.
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