Pharmaceutical companies have agreed to pay Hawaii $700 million to settle its lawsuit over the efficacy and safety of the blood thinner Plavix, the state attorney general's office announced Friday. A court ruling last year ordered Bristol Myers Squibb Company and three U.S.-based subsidiaries of French pharmaceutical company Sanofi to pay a combined $916 million. But before an appeal was decided, a settlement was reached for the lower amount, the attorney general's office said.
Main Idea: Hawaii reached a $700 million settlement with Bristol Myers Squibb and Sanofi over claims tied to the blood thinner Plavix.
Key Points:
Hawaii’s settlement may raise costs for Bristol Myers Squibb and Sanofi, which can spill into drug prices or lower profits for future research.
Hawaii and its residents may recover money for alleged Plavix harms, and the case could push clearer drug warning labels for patients.
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One of the two companies agreeing to pay the settlement and a central defendant.
One of the two companies agreeing to pay the settlement and a central defendant.
Hawaii attorney general named in connection with the lawsuit and label concerns.
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Hawaii governor quoted reacting to the settlement.
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