Insurers Off The Hook In BASF Synthroid Spat

Law360, New York (April 14, 2008, 12:00 AM EDT) -- An appeals court has done an about-face in an insurance-coverage action related to the marketing of synthetic thyroid drug Synthroid, ruling that a group of primary-insurance providers were not obligated to indemnify BASF AG for a multidistrict litigation settlement.

A three-judge panel of the U.S. Court of Appeals for the Seventh Circuit said Monday that a lower court was wrong to grant summary judgment to BASF allowing the company to recover damages from its umbrella insurers for their failure to defend and indemnify the company in...
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