Cardizem CD settlement

Executive Summary

Andrx and Aventis will pay $80 mil. to settle Cardizem CD antitrust litigation brought by indirect purchaser class of plaintiffs and 50 state attorneys general plus the District of Columbia and Puerto Rico. Settlement is subject to approval by Detroit federal court. Andrx' portion is covered by $60 mil. litigation charge reported in second quarter 2002, company says (1"The Pink Sheet" July 15, 2002, p. 7). In March 2001, FTC entered into a consent order with Aventis and Andrx after the commission alleged that Abbott paid Andrx not to enter the market while Cardizem CD (diltiazem)litigation was pending (2"The Pink Sheet" April 9, 2001, p. 4)...