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British drugmaker AstraZeneca Plc has agreed to pay $68.5 million to resolve allegations by U.S. state regulators that its marketing of the multibillion-dollar antipsychotic drug Seroquel was deceptive.
The accord with 37 U.S. states and Washington, D.C., is the largest multistate, consumer protection-based pharmaceutical settlement on record, said Paula Dow, attorney general of New Jersey, which is among the settling states. Get the full story »
A U.S. judge handed AstraZeneca Plc a huge victory Tuesday, finding that the patent on its multibillion-dollar cholesterol fighter Crestor is valid, sending the the British drugmaker’s shares up 9 percent.
Judge Joseph Farnan, of the U.S. District Court in Delaware, ruled that generic drugmakers who challenged the patent failed to prove it was invalid because it was an obvious invention. Get the full story »
From the Wall Street Journal | Abbott Labs has put the flu-vaccine business of Solvay SA up for sale. British pharmaceuticals giants GlaxoSmithKline and AstraZeneca are considered leading candidates to pick up the operation, expected to sell for around $617 million.
Abbott bought the drug business of Belgium’s Solvay in September.
