No matter what sector or industry you work in, we would be wrong in saying that our interests do not spike when we hear about a competitor going through some sort of legal battle. We want to find out the details that lead to that point and eagerly track the comings and goings of the case. Not to mention patiently waiting for the day that the outcome arrives as well.
While this is a natural thing to do, there is also another reason why you should be keeping up with lawsuit outcomes, which could be beneficial for your business. No matter the industry, lawsuit outcomes can impact the market itself and how it works and change the horizon for all companies within this sector moving forward. Due to this, you should take an avid interest in what happens in lawsuits, including the ones that we will discuss a bit more shortly.
Lawsuits can be both long or short, and the reason why they have happened can also vary. Healthcare business lawsuits naturally pique the interests of people more than the ones we hear about more frequently. That being the case, they also have some of the most interesting outcomes, whether you are in the sector or not.
With that in mind, we are going to run through some of the lawsuit outcomes that healthcare businesses should read in 2021.
For those who are unaware of who Surescripts is, they are a health information network where users can order medical prescriptions through their servers. Following an investigation into practices by the Federal Trade Commission (FTC), it was stated that Surescripts had implemented strategies within their methods to prevent other e-prescription services from getting any customers who were already using Surescripts services.
The investigations conducted by the FTC showed that the company had issued threats and anti-competitive exclusivity agreements to prevent customers from using other e-prescription services that are available and taking up a large share of the market for themselves.
The FTC concluded that Surescripts used illegal methods in order to monopolize the e-prescription markets entirely, and have outlined that moving forward, they are going to work to prevent the business from using anti-competitor methods in the future, restore equal competition within the e-prescription markets, and return funds to customers who have missed out on going somewhere cheaper.
Other businesses should make a conscious effort to not partake in methods such as these, and recognize that the markets are big enough for everyone.
Sanofi and Boehringer Ingelheim, 2019 – Ongoing
If you are up to date with the goings-on the healthcare business industry, then you have probably heard this mentioned at some point in recent months. With the world news dominated by Coronavirus as of late, we can understand how this topic may have missed the evening news but is a lawsuit that both has outcomes, and that is also ongoing.
Ranitidine, also known by brand name Zantac, was pulled from shelves across the country in September 2019, following investigations by the U.S. Food and Drug Administration (FDA). Research conducted had found that a central component of the medication was unstable the longer it stayed on shelves in stores. With higher dosages being ingested, a person’s chances of developing various cancers increased exponentially.
As a result of these findings and following the withdrawal of the drug from supermarkets up and down the country, the FDA launched an investigation into the drug manufacturers: Sanofi and Boehringer Ingelheim.