Abbott Agrees to Settle Lawsuit Over Price of Antiretroviral Norvir
August 1, 2008
Abbott Laboratories on Wednesday agreed to pay between $10 million and $27.5 million to settle an antitrust lawsuit filed by HIV/AIDS advocates and other drug companies over an increase in the price of the company's antiretroviral drug Norvir, the AP/International Herald Tribune reports (AP/International Herald Tribune, 7/31).
Abbott is facing six other antitrust lawsuits filed by 16 companies, the AP/Herald Tribune reports. Two other lawsuits filed in Illinois have been dismissed (AP/International Herald Tribune, 7/31). "The price adjustment of Norvir was a legitimate response to advances that Abbott scientists made in treating HIV and captured the fair value of its new use as a bolster" in combination therapies," Abbott spokesperson Scott Stoffel said. He added that Abbott sees the settlement as being "in the best interests of both parties." According to Stoffel, the agreement calls for the settlement funds to primarily go to HIV/AIDS-related charities (Graybow, Reuters UK, 7/31).
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This article was provided by Henry J. Kaiser Family Foundation. It is a part of the publication Kaiser Daily HIV/AIDS Report. Visit the Kaiser Family Foundation's website to find out more about their activities, publications and services.