Generic firm agrees to pay $7 mil. to Warner-Lambert to settle lawsuit concerning damages to the brandname drugs caused by fraudulently approved ANDAs for Dilantin, Meclomen and Procain ("The Pink Sheet" Oct. 21, T&G-13), Bolar announced Feb. 3. Warner-Lambert filed suit in Newark, N.J. federal court last autumn against Bolar and the company's former President Robert Shulman. Bolar has agreed to pay $1 mil. to Warner-Lambert upon the signing of the settlement, $2 mil. on or before March 1, 1992 and $1 mil. every 15 months until Jan. 1, 1997.
You may also be interested in...
Newly released Medicare Part D data sheds light on the sales hit that branded pharmaceutical manufacturers will face when the coverage gap discount program gets under way in 2011
FDA appears headed for a showdown with clinicians and the pharmaceutical industry over the proposed new clinical trial endpoints for acute bacterial skin and skin structure infections, the guidance's approach for justifying a non-inferiority margin and proposed changes in the types of patients that should be enrolled in trials
Specialty drug maker Shire has quietly begun scouting deals with a brand-new $50 million venture fund, the latest of several in-house investment arms to launch with their parent company's pipelines, not profits, as the measure of their worth