GlaxoSmithKline To Pay $14M In Paxil Antitrust Case

Law360, New York (May 8, 2006, 12:00 AM EDT) -- U.K. drug maker GlaxoSmithKline will pay $14 million to settle charges the company violated antitrust laws by seeking to block generic competition for blockbuster antidepressant Paxil by manipulating the patent system.

The states of Michigan, Maryland, New York and Wisconsin negotiated a 49-state antitrust settlement to recover $14 million from Glaxo after allegations that the company had forced government health plans to pay inflated prices for Paxil by blocking generic versions of the drug from being made came to light.

Meanwhile, Michigan Attorney Michael Cox announced...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.