Personal Injury Law

Abbott Labs Settles Generic Drug Lawsuit

By Edward Bills

Abbott Laboratories and two other drug companies settled a $22 million lawsuit with 25 states and the District of Columbia after the attorney general of Connecticut accused the companies of blocking a cheaper, generic version of one of their drugs from reaching the market. Attorney General Richard Blumenthal accused the drug makers of using illegal practices to keep a generic version of the drug TriCor unavailable to consumers. Connecticut will receive $224,714 of the settlement, much of which will reimburse the state Medicaid program. The settlement also includes reform measures to allow generic drugs to be developed.

Full post as published by Bodily Injury Blog on January 11, 2010 (boomark / email).