Home > CSL settles US class action for $67.9m

CSL settles US class action for $67.9m

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Blood plasma group CSL has settled a long-running antitrust class action filed by US and Puerto Rican hospital groups and has agreed to pay $US64 million ($67.9 million).

AAP reports that the court battle concerned allegations that CSL was involved in price fixing for life-saving plasma products.

In a statement to the Australian Securities Exchange, CSL said the settlement dismisses all claims and potential claims of class members against CSL in the lawsuit, as well as those against the Plasma Protein Therapeutics Association.

CSL said the payment and ending of the class action lawsuit is subject to an approval process of the US federal court. This is expected to take several months.

The claims date back to 2009. They were made against CSL and industry association the Plasma Therapeutics Association, of which CSL is a leading member.

Several US hospitals claimed CSL and its major US rival Baxter used shortages in blood plasma supplies to push up prices.

Despite the settlement, CSL's chief executive officer Paul Perreault said the group continued to "strongly reject any allegation of wrong doing." 

He added, "To pursue the case further would have required several more years of management time and focus as well as substantial additional legal costs with no absolute certainty of the outcome." 

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