There has been an update on the status of the Olmesartan Products Resolution Program. There were approximately 8,000 Claim Packages submitted for consideration in August 2018. After the Claims Administrator completed their adjudication of each claim, hundreds of Claimants appealed their Rejection and Points Award Notices to the Eligibility Committee, which is comprised equally of members from the Plaintiff Negotiating Committee (“PNC”) as well as Daiichi representatives.
While determinations are made as to the vast majority of these appeals, some Points Award appeals remain with the Eligibility Committee. When these decisions are issued, each Claimant will have the right to decide whether to accept or appeal the determination to the Special Master. In addition, all Extraordinary Injury Award Notices have been issued, and the Claims Administrator and Eligibility Committee are reviewing those that were appealed on July 9. The Claimants will similarly have a right to appeal these determinations to the Special Master.
Pursuant to the Master Settlement Agreement, Daiichi will become obligated to fund the settlement once the point valuation date occurs, which is when the Claims Administrator will calculate the specific point value. On that date, Daiichi must fund the settlement within ninety (90) days. Because the Points Award appeals and EIF determinations remain ongoing, the point valuation date is not yet known. We expect the point valuation date to be in late September, but cannot be certain because we do not know the number of appeals still to be filed.
Given the short timeframe and priority to complete the point valuation, please continue to abide by all deadlines set by the Claims Administrator, including the requirement to pay the $500.00 Special Master fee where applicable. No extensions of time to these deadlines will be granted.
For more information please see https://www.olmesartanproductlitigationsettlement.com/.