Amgen Beats Decade-Old Investor Suit Over Off-Label Scheme
Law360, Los Angeles (January 10, 2017, 10:25 PM EST) -- A California judge Tuesday dismissed a decade-old action claiming Amgen Inc.’s board caused more than $1 billion in damages by overseeing an off-label drug marketing scheme, saying the shareholder failed to make a demand on the officials to instigate litigation before filing her suit.
Shareholder Judy Durgin’s suit, brought in May 2007, relates to allegedly misleading statements the pharmaceutical giant made about off-label uses for two of its drugs, Aranesp and Epogen. In 2012, the company pled guilty in federal court to misbranding Aranesp and agreed to a combined $762 million civil and criminal payout to resolve the allegations about its...
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