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LAWSUITS NEWS & LEGAL INFORMATION

EMD Serono Inc.

New York, NY: (Feb-16-07) A civil lawsuit was filed against EMD Serono in 2005 for allegedly promoting the company's AIDS drug Serostim for unapproved uses. Serostim treats AIDS wasting, a condition involving serious weight loss in AIDS patients. The US District Court in Massachusetts granted preliminary approval of the settlement, ordering EMD Serono to pay $24 million, which would reimburse health plans, health insurance providers, and individuals who paid for the drug. This payout followed an earlier settlement in 2005, where Serono paid the US Department of Justice $704 million in fines for unlawfully promoting Serostim. [BUSINESS WEEK: SEROSTIM SETTLEMENT]

[MARKET WATCH]

[OFFICIAL SEROSTIM SETTLEMENT INFORMATION]


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Published on Feb-25-07


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