Sanofi-Aventis

New York, NY: (Sep-10-07) Sanofi-Aventis has agreed to pay a total of $182.8 million plus interest to settle lawsuits relating to its Anzemet anti-nausea drug, which involves its predecessor Aventis Pharmaceuticals. Sanofi-Aventis stated that the civil settlement it reached with the US Department of Justice relates to government claims that Aventis Pharmaceuticals artificially inflated the Average Wholesale Price for Anzement, which in turn increased the cost of government reimbursements for the drug. The company said the settlement covers the time period September 1997 to June 2004, before Sanofi-Aventis was formed. The group has decided to resolve this legacy matter through this settlement, without admitting any wrongdoing. Sanofi-Aventis officials stated that the total amount of the settlement is fully covered by existing reserves. The US Department of Justice confirmed the settlement of over $190 million. [FORBES: ANZEMENT PRICE FIXING]

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Published on Sep-15-07