Sanofi in $61.5-Million Class-Action Settlement for Vaccine
Sanofi Pasteur, the vaccines unit of Sanofi, has agreed to pay $61.5 million to settle a class-action lawsuit involving its meningococcal vaccine, Menactra. Menactra is a key product in Sanofi’s vaccines franchise, which had 2015 sales of EUR 4.7 billion ($5.1 billion). Menactra sales were EUR 563 million ($605 million) in 2015.
As part of the settlement, Sanofi has also agreed to abandon a counterclaim it filed the year after the lawsuit was originally filed in 2011. The settlement requires final court approval.
In a company statement, Sanofi said it had “entered a settlement agreement with the plaintiff on behalf of all Class Members to fully and finally resolve the parties’ respective claims. In the litigation, Sanofi has vigorously denied and continues vigorously to deny the plaintiffs’ claims and any allegation of wrongdoing. The Settlement Agreement likewise does not involve any admission or finding of wrongdoing. Despite Sanofi’s strong defenses, Sanofi recognizes that continued litigation is likely to be extraordinarily expensive and time-consuming and thus has agreed to enter into this Settlement Agreement to avoid the further expense, inconvenience, risk and distraction of burdensome and protracted litigation. Sanofi is finally putting to rest this case by obtaining complete dismissal of the Action and a release by Class Members of all Released Claims.”