Synthroid marketing settlement
Pennsylvania's PACE program enters $6.2 mil. settlement with Abbott on Synthroid litigation regarding suppression of information from the "Dong study," which found levothyroxine generics to be bioequivalent to Synthroid. Knoll, which was acquired by Abbott in early 2001, has already entered into a $87 mil. settlement with approximately 778,000 consumer settlement class members (1"The Pink Sheet" Aug. 14, 2000, p. 28). Knoll in 1999 also entered into a $48.1 mil. settlement with 37 state Attorneys General after they accused Knoll of blocking publication of the "Dong study" (2"The Pink Sheet" Aug. 2, 1999, p. 36)...
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Marketing litigation settlement establishes $87 mil. consumer class fund to provide "approximately 778,000 consumer settlement class members with...at least $84 for each claimant who bought Synthroid before 1995 and $55 for those who bought it starting in 1995," Chicago federal court Judge Elaine Bucklo ruled Aug. 4. The class action suits cited Knoll's delay of publication of a Dong et al. study that found certain branded and generic levothyroxine sodium products were bioequivalent to Knoll's thyroid medication. Under the settlement, about $46 mil. will also be paid to third-party payer class members
Company agrees to provide $41.8 mil. to states for "consumer education, litigation, public protection or local consumer aid funds" as part of a settlement agreement with 37 state Attorneys General. The states initiated litigation relating to Knoll's blocking publication of the "Dong study" that found levothyroxine generics to be bioequivalent to Synthroid