29 States File Suit Against Drug Maker Bristol-Myers Squibb
June 5, 2002
Twenty-nine states filed suit against the pharmaceutical maker Bristol-Myers Squibb Co. Tuesday alleging the drug manufacturer maintained a monopoly on the cancer medication Taxol by illegally delaying cheaper alternatives from entering the market. According to the complaint, Bristol-Myers obtained patents with the U.S. Patent and Trademark Office using fraudulent information concerning Taxol that kept generic versions of the drug off the market for over two years.
Facing no alternatives, patients were forced to spend 30 percent more for Taxol, used mainly in the treatment of breast and ovarian cancer, than they would have if a generic version existed. The company could face billions of dollars in fines.
-- Article Courtesy of InjuryBoard.com
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