For Immediate Release
Media Contact: Bob Cooper
Date: April 24, 2003
Attorneys General Reach Final Agreement with Bristol-Myers Squibb
(Boise) - The State of Idaho will receive $108,000 as a result of a settlement agreement with Bristol-Myers Squibb Company, Attorney General Lawrence Wasden announced today. Idaho consumers who purchased the prescription drug Taxol will also be able to file a claim for restitution from a $12 million settlement fund. Taxol is a prescription drug, which is used to fight cancer.
Idaho joined 49 other states and U.S. territories in the settlement resolving allegations that Bristol-Myers Squibb violated state and federal competition laws by blocking the entry of less expensive generic drugs into the marketplace.
"My office has settled four lawsuits recently against drug manufacturers for anti-competitive pricing," Attorney General Wasden said.
Bristol-Myers Squibb also has agreed to injunctive relief, which prohibits the company from engaging in anti-competitive conduct. Bristol-Myers Squibb has further agreed to provide free quantities of Taxol to DEA-approved health care facilities, provided that recipients meet certain eligibility requirements to receive the drug.
The settlement was filed today in the District of Columbia and requires approval from the court to become effective. If approved, the Attorneys General will implement a claims administration process for consumers who purchased Taxol or its generic equivalent between January 1, 1999 and February 28, 2003.
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