Bristol-Myers Settles Wholesale Drug Price Suit

Law360, New York (September 23, 2009, 7:23 PM EDT) -- Less than a week after asking a court to dismiss Bristol-Myers Squibb Co. from a suit, the state of Arizona has revealed that the parties have reached a $900,000 settlement that will put to rest allegations that the pharmaceutical giant schemed to artificially boost average wholesale drug prices.

Arizona Attorney General Terry Goddard on Wednesday officially announced the deal, which marks the latest in a slew of settlement coups for Arizona after first hitting the warpath over average wholesale pricing in 2005.

"These drug companies have...
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