The lawsuit stems from a 2008 settlement of a patent lawsuit filed by Pfizer against Ranbaxy over Ranbaxy's plan to make generic Lipitor. Under the deal, Pfizer agreed to drop a claim for damages against Ranbaxy, and Ranbaxy agreed to stay out of the Lipitor market until November 2011.
US District Judge Peter Sheridan in Trenton, New Jersey ruled that the plaintiffs, retailers and distribution companies that bought Lipitor directly from Pfizer, failed to plead their case with enough detail.
The lawsuit was filed in 2012 by retailers and distributors that bought Lipitor directly from Pfizer.
The lawsuit stems from a 2008 settlement of a patent lawsuit filed by Pfizer against Ranbaxy over Ranbaxy's plan to make generic Lipitor. Under the deal, Pfizer agreed to drop a claim for damages against Ranbaxy, and Ranbaxy agreed to stay out of the Lipitor market until November 2011.
Also read: CCI begins Sun-Ranbaxy deal's public scrutiny; seeks notes
Retailers and distribution companies claim that the settlement amounted to Pfizer paying Ranbaxy to stay out of the Lipitor market, violating antitrust laws. But Sheridan ruled Friday that their case failed because they did not offer any allegation of the settlement's dollar value.
Sheridan dismissed another version of the lawsuit last September.
Lawyers for the plaintiffs and a Pfizer spokesman could not immediately be reached for comment.
The case is In re: Lipitor Antitrust Litigation, US District Court, District of New Jersey, No. 3:12-cv-02389.
Pfizer stock price
On September 12, 2014, Pfizer closed at Rs 1553.60, up Rs 74.70, or 5.05 percent. The 52-week high of the share was Rs 1779.00 and the 52-week low was Rs 1020.00.
The company's trailing 12-month (TTM) EPS was at Rs 73.51 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 21.13. The latest book value of the company is Rs 641.82 per share. At current value, the price-to-book value of the company is 2.42.
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