Lawsuits filed in Oakland federal court claim that Abbott Laboratories Inc. raised the price of its AIDS drug Norvir by 400 percent in an attempt to increase sales of its drug Kaletra and suppress competition. The company has settled one case, estimated to be worth between $10 and $27.5 million.
As reported by the Sacramento Bee, “Executives acknowledged in 2003 internal memos that Abbott would appear as the “big, bad, greedy pharmaceutical company” if they implemented the Norvir price hike, according to court documents.”
Future antitrust lawsuits expect to bring far more than $10-$27.5 million.
Here’s hoping that’s correct.
