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US Court Tentatively Approves Bristol-Myers Squibb's $125-million Settlement in Plavix Lawsuit
FirstWordPlus.com
PharmaManufacturing.com
08/19/2009
A US court granted preliminary approval to a $125-million settlement reached in a shareholder lawsuit against Bristol-Myers Squibb regarding the company's attempts to resolve a patent dispute with Apotex over Plavix (clopidogrel), according to court documents.
In the shareholder complaint, investors alleged that Bristol-Myers Squibb did not disclose that it had agreed to relinquish certain legal rights in the 2006 agreement with Apotex that aimed to keep the Canadian drugmaker from launching generic versions of the anticoagulant until September 2011. The plaintiffs also claimed that the company had entered into "secret" oral side agreements with the Canadian generic drugmaker, and that the agreements limited Bristol-Myers Squibb's ability to recover damages and enforce its patent rights.
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