Bristol-Myers Squibb settles AWP suit

Executive Summary

Bristol agrees to pay $13 million to settle a class action by plaintiffs who claim their co-payments under Medicare Part B were based on inflated average wholesale prices for Taxol and other Bristol drugs. The June 26 settlement covers Class I claimants in long-running AWP litigation. In a June 21 ruling, Massachusetts U.S. District Court Judge Patti Saris found that Bristol, AstraZeneca and Schering-Plough subsidiary Warrick had published false and inflated AWPs for two other classes of claimants (1"The Pink Sheet" June 25, 2007, In Brief)...