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: Breaking Legal NewsAppeals court rules for Abbott in AIDS drug case
By (Breaking Legal News)
A federal appeals court has rejected a lawsuit accusing Abbott Laboratories of antitrust violations over a sudden 400-percent price hike of a popular AIDS drug.
Advocacy groups and drug benefit providers sued Abbott in 2004. They alleged the North Chicago, Ill., drugmaker raised the price of the HIV-fighting Norvir to stifle competition and boost sales of its own alternative, Kaletra.
The company paid $10 million to settle the lawsuit and agreed to let the 9th U.S. Circuit Court of Appeals still determine if the price hike was an illegal business practice.
The court ruled in Abbott's favor Tuesday. If it had lost, Abbott would have had to pay an additional $17.5 million.
A lawyer for the advocacy groups says they're weighing whether to appeal the decision.
Full post as published by Breaking Legal News on July 08, 2009 (boomark / email).
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