Thursday, June 21, 2007

3 Big Pharmas - "unfair and deceptive trade practices"


A court in the US has ruled that AstraZeneca, Schering-Plough and Bristol-Myers Squib violated Massachusetts general laws by engaging in 'unfair and deceptive trade practices', lawyers for the group plaintiffs said.

Steve Berman, the attorney who led the suit, said in a statement the case targets the companies' 'practice of inflating' the average wholesale prices (AWP) that they reported for certain drugs, including chemotherapies.

Berman, of the Hagens Berman Sobol Shapiro law firm, said the Massachusetts ruling was a test case and trials are planned for the rest of the states.

Forbes

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