Serono Agrees To $24M Settlement Over AIDS Drug

Law360, New York (February 20, 2007, 12:00 AM EST) -- Drug maker EMD Serono Inc. has agreed to shell out $24 million to settle a cluster of class action lawsuits alleging the company illegally promoted a popular AIDS drug and paid doctors to prescribe it.

The settlement received preliminary approval on Feb. 14 in Massachusetts District Court in Boston, where a handful of complaints were filed in September 2005 over Serono’s AIDS drug Serostim.

The funds will go to a group of private health plans, health insurance providers and individuals who claim the drug was pushed...
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