GlaxoSmithKline To Pay $92m To Settle Suits Over Patent Gaming

Law360, New York (July 12, 2004, 12:00 AM EDT) -- U.K. drug maker GlaxoSmithKline has agreed to pay $92 million to settle a series of antitrust lawsuits targeting its alleged “gaming” of the patents covering antibiotic prescription drug Augmentin.

GlaxoSmithKline said the payment will settle class action lawsuits dating back to 2002, and that it will take a legal charge of $315 million during second quarter earnings.

Still outstanding is a lawsuit against GlaxoSmithKline brought by one of the generic makers, Lek Pharmaceuticals, a company based in Slovenia that is a subsidiary of Novartis AG....
To view the full article, register now.