In this Law360 article, counsel discusses Celeste Saravia’s pivotal role as the economic expert in a pharmaceutical antitrust lawsuit.
Counsel for Gilead and Teva retained Celeste Saravia of Cornerstone Research provided expert testimony on the competitive effects of the settlement in the case In re HIV Antitrust Litigation. Following trial, the jury ruled in favor of the defense, finding that the settlement between Gilead and Teva did not include a reverse payment to delay Teva’s market entry. The jury’s opinion was consistent with Dr. Saravia’s testimony and expert opinion.
Saravia, an economist with the consultancy firm Cornerstone Research, did a great job.
In an interview with Law360 after the decision, one of the lead attorneys cited the important role Dr. Saravia played in the successful defense. He explained that Dr. Saravia really “dug in” to discredit the plaintiffs’ model, and also noted: “Saravia, an economist with the consultancy firm Cornerstone Research, did a great job of describing how both parties would have been motivated to settle the case with the agreed-upon market entry date for Teva of September 2020, even without the alleged payment.”
This article was published by Law360 in July 2023.
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