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Drug makers found guilty in pricing case

June 25, 2007
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According to the Associated Press, a Massachusetts judge ruled against pharmaceutical companies AstraZeneca PLC, Schering-Plough Corp. and Bristol-Myers Squibb Co. recently, finding them guilty of engaging in unfair and deceptive trade practices for their medication prices, according to the law firm of Hagens Berman Sobol Shapiro LLP. The three companies were defendants in a suit that alleged they inflated the average wholesale prices they reported for certain drugs. London-based AstraZeneca, Kennilworth, N.J.-based Schering-Plough and New York-based Bristol-Myers were ordered to pay damages for part of the decision, but the judge asked for more information before deciding on further restitution. The ruling affects patients who paid for certain prescription drugs from December 1997 to 2003.

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