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Major Company Settles Lawsuit For Millions


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8/20/2010
Brent Adams
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AstraZeneca has agreed to pay $103 million to settle class-action claims that were brought up because the claimants believed that the company had been improperly altering the wholesale price of cancer and asthma treatments.

The first settlement of $13 million for consumers and health insurers in Massachusetts, and $90 million for claimants outside of the state. The suit claimed the company inflated the average wholesale price of expensive drugs, according to the law firm handling the case. The firm said the wholesale price is used as a benchmark for almost all prescription drugs in the country.

AstraZeneca, allegedly inflated the average wholesale price of Zoladex, a cancer drug, and Pulmicort Respules, a treatment used to prevent asthma symptoms in children.

AstraZeneca spokesman Tony Jewell said Friday that although the company denies any liability and wrongdoing, the settlement is the best way to resolve the matter and focus on its core business.



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