April 19, 2011
Abbott to Pay $52M in Settlement With Direct Drug Buyers
Abbott Laboratories, which makes HIV meds Norvir and Kaletra, has agreed to pay $52 million to resolve a class action lawsuit by direct drug buyers, Bloomberg BusinessWeek reports. The suit stems from a 2003 wholesale price increase on a 100 milligrams Norvir capsule from $1.71 to $8.57. Norvir is a protease inhibitor that boosts the effects of other protease inhibitors (PI). Kaletra, another PI, includes Norvir and lopinavir, both made by Abbott. As such, Kaletra competes against other drugs that require a Norvir booster. Lawsuits claimed that Abbott used its position to hurt competitors and penalize drug customers who wanted to buy medicines that competed with Kaletra. The settlement is still subject to court approval.
To read the Bloomberg BusinessWeek article, click here.
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