McKesson Agrees To Settle AWP Case For $350M

Law360, New York (November 21, 2008, 12:00 AM EST) -- McKesson Corp. has agreed to pay $350 million to settle all

private-party litigation alleging the pharmaceutical distributor conspired to raise the average wholesale price for thousands of drugs.

The $350 million settlement announced by the company Friday will now be submitted to the court for preliminary approval. Afterward, notices will be sent to the class, and a final approval hearing will be held, both the company and the plaintiffs' counsel noted, predicting that a final approval hearing would be set sometime this summer.

While McKesson has...
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.