Federal Appeals Court Rejects Lawsuit Against Abbott Over HIV/AIDS Drug Price Hike
A federal appeals court on Tuesday rejected a lawsuit against Abbott Laboratories accusing the company "of antitrust violations over a sudden 400-percent price hike of a popular AIDS drug," the AP/El Paso Times reports (7/7). Advocacy groups and drug benefit providers sued Abbott in 2004 alleging the "drugmaker raised the price of the HIV-fighting Norvir to stifle competition and boost sales of its own alternative, Kaletra. The company paid $10 million to settle the lawsuit and agreed to let the 9th U.S. Circuit Court of Appeals still determine if the price hike was an illegal business practice," writes AP/Minneapolis Star Tribune. A lawyer for the advocacy groups says they are still deciding whether to file an appeal (7/7).