Abbott Labs settles AIDS drug lawsuit
July 31, 2008 · Print This Article
The maker of a widely used HIV medication will pay between $10 million and $27.5 million to resolve antitrust claims arising from the drug’s pricing. According to the lawsuit, filed by AIDS patients, Abott Laboratories increased the price of the drug Norvir in order to block competition. On Dec. 3, 2003, Abbott increased the price of Norvir’s average daily cost per patient from $1.71 to $8.57, prompting cries of price gouging from the AIDS community. A trial in the case had been scheduled to begin next month.
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