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Serono

The European biotechnology firm has plead guilty to criminal charges over the promotion of its drug Serostim, used to fight physical wasting caused by AIDS. They conspired with a medical device maker to use a diagnosis that was not approved by the U.S. Food and Drug Administration. Serono has also agreed to pay a $704 million settlement, including a $137 million criminal fine and $567 million in civil suits. (Oct-17-05) [MARKET WATCH]

[OFFICIAL SEROSTIM SETTLEMENT INFORMATION]


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Published on Oct-23-05

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