AstraZeneca is back in pharma news charts, as it has announced to settle the long impending lawsuit filled against its heart drud Toprol XL.
AstraZeneca and affiliates will pay as much as $11 million to settle claims that the company violated antitrust and consumer-protection laws by keeping generic versions of the heart drug Toprol XL off the market.
AstraZeneca defendants denied any wrongdoing, and agreed to the settlement partly “to avoid further expense, inconvenience” and uncertainties of protracted litigation, the London-based company said in court papers.
Going back in time to find details about this pharma news helps trace that, the case stems from lawsuits filed in 2006 by drug wholesalers and health and welfare funds contending AstraZeneca used unfair trade practices, partly by bringing sham patent- infringement lawsuits against makers of low-cost generics.
About half of the settlement fund will be used to pay consumer claims and the other half will go toward claims by insurers and employee-benefit plans, the law firms said.
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