Newly-Unsealed Documents Shed Light on Abbott Labs' 400% Norvir Price Hike
Union, Consumer Groups Decry Abbott for Putting Profits Before HIV/AIDS Patients' Needs
May 12, 2008
Boston, MA -- In an ongoing nationwide class action lawsuit against Abbott Laboratories, Inc. (NYSE: ABT), the Court in the case recently ordered the unsealing of documents regarding Abbott's four-hundred percent price increase of the HIV/AIDS drug Norvir®.
Abbott fought to keep these documents sealed, arguing that they contain 'business strategies' important to Abbott's competitive position in the HIV pharmaceutical market. But Judge Claudia Wilken ruled that because the price increase related to the "allegations that are central to Plaintiff's anti-trust claims" the documents should be unsealed. (Order, p. 3).View Full Article
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