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AstraZenca Settles Drug Pricing Suit for $103M


This is a settlement for the Consumer and Financial Fraud lawsuit.

Washington, DC: AstraZeneca has settled claims that it overcharged for some medicines such as Zoladex and Pulmicort. Britian's second largest pharmaceutical company has agreed to pay $103 million to close the claims filed in the US. Pulmicort Respules is used to prevent asthma, and Zoladex is used to treat prostate and breast cancers.

According to a report on Business Week, consumers will receive 11 percent of the settlement monies, with the remainder going to insurers.

Plaintiffs accused the pharmaceutical company of illegally seeking to increase its market share by selling medicines to doctors at discounted prices, compared to published average wholesale prices that consumers, pension funds and other parties would have paid. And, the allegations also claimed that the company encouraged doctors to claim the full reimbursement costs from the insurers.

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Published on Jun-21-10


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