Mylan/FTC
Executive Summary
Settlement of lorazepam and clorazepate price-fixing lawsuit with the Federal Trade Commission and 33 state attorneys general is expected in three months, company said after announcing a preliminary $100 mil. settlement. The agreement is subject to approval by FTC and D.C. federal court judge Thomas Hogan. Mylan also reached a $35 mil. tentative settlement with private plaintiffs including consumers and third-party reimbursers. Mylan will pay an additional $8 mil. in legal fees to FTC and the states and $4 mil. to plaintiffs' attorneys. Mylan is expected to accept restrictions on its contracts with suppliers and distributers as part of the FTC agreement. The settlements do not include litigation involving institutional purchasers, including wholesalers
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