Abbott Laboratories has agreed to pay between $10 million and $27.5 million to settle a lawsuit contending it improperly raised the price of its HIV drug Norvir by 400 percent.
The exact size of the settlement will depend on the result of an appeals court review of the case, said attorney Michael Stocker, an attorney for the plaintiffs. An Abbott spokesman confirmed a settlement had been reached.
The pact was reached on Wednesday and requires approval by a U.S. District Court in Oakland, California, where the class-action lawsuit had been set to go to trial on Aug. 18, Stocker said.
AIDS patients and health plans sued Abbott in 2004, contending the company violated antitrust laws and engaged in unfair business practices by overcharging for Norvir.
More
No comments:
Post a Comment