Zillow Merges with Trulia for $3.5 Billion
Zillow Merges with Trulia for $3.5 Billion
Wal-Mart Rejected by Delaware Supreme Court
Wal-Mart Rejected by Delaware Supreme Court
Massachusetts Hospital Takeover Agreement Opposed by Antitrust Experts
Massachusetts Hospital Takeover Agreement Opposed by Antitrust Experts
Legal Battle Begins in Sale Over East Hampton Mansion for $147 Million
Legal Battle Begins in Sale Over East Hampton Mansion for $147 Million
Job Listings

AstraZeneca Settles with South Carolina for $26 Million

On Friday, AstraZeneca Plc informed that it has agreed to a $26 million settlement with the state of South Carolina to bury the lawsuit accusing it of misleading consumers about the risks associated with Seroquel, the anti-psychotic drug. According to court papers, the settlement of the lawsuit, which had been filed in 2009, was reached on Wednesday, last week.

A spokesman for AstraZeneca, Tony Jowell, said in a statement on Friday, “After years of costly litigation, we decided that settling this case was the appropriate way to resolve the matter and allow the company to focus on our core mission of delivering meaningful medicines to patients.”

The deputy attorney general of South Carolina, Bryan Stirling, said the agreement included “a total settlement of all claims.”

The settlement is the most recent one in an all out effort by AstraZeneca to stop regulatory probes into its sales and marketing related to Seroquel. In March 2011, AstraZeneca had agreed to a $68.5 million settlement with 37 states. In 2010, it had reached a $520 million settlement with federal regulators including the DOJ over its off-label marketing of Seroquel.

Seven states including South Carolina did not join the earlier settlement and continued to pursue their own claims. Since then, Astra Zeneca has settled with six states including South Colorado being the latest. The suit by Mississippi is still pending.



Get JD Journal in Your Mail
Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!


Earlier in August, the company claimed reaching settlements with New Mexico and Utah. However, the agreements are to be finalized, and a spokesman for the New Mexico attorney general said, “there is a tentative settlement in place.”

The case is State of South Carolina v. AstraZeneca Pharmaceuticals, LP, et al, Court of Common Pleas for the Seventh Judicial Circuit in South Carolina, 2009-CP-42-00097.

Did you like this? Share it:
AstraZeneca Settles with South Carolina for $26 Million by

Tagged:

Posted by on August 27, 2012. Filed under Business News. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.
  • Olivia

    Please give me information on seroquel and the lawsuits filed. I am a seroquel patient and would like to know if maybe I should not be taking this medication. I am currently taking 60mg Dailey, Thanks for your help! Olivia

 

 

Job of the Day
Capital Markets Counsel 3 Attorney
USA-NC-Charlotte

Wells Fargo & Company, a diversified financial services company, is seeking an experienced capital markets Attorney to join its Law Department in its Charlotte, NC office. The individual selected...