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Wednesday, April 28, 2010

AstraZeneca to Pay $520 Million...But Deny Allegations


AstraZeneca denies the allegations
Image: dailybail.com



Source - Bloomberg
By Justin Blum

AstraZeneca Plc agreed to pay $520 million to resolve U.S. allegations that it illegally marketed the schizophrenia drug Seroquel for uses that weren’t approved by regulators.

AstraZeneca, the U.K.’s second-largest drugmaker, promoted Seroquel to doctors for unapproved uses including aggression, Alzheimer’s disease and anger management, the Justice Department said today in a statement. The payment is the largest settlement by a company in a strictly civil case involving unapproved marketing claims for drugs.

AstraZeneca’s Denial

AstraZeneca denies the allegations, the company said in a statement. The company entered into a corporate integrity agreement with the U.S. that will last for five years, the statement said.

“It is in the best interest of AstraZeneca to resolve these matters and to move forward with our business of discovering and developing important, life-changing medicines while avoiding the delay, uncertainty and expense of protracted litigation,” said Glenn Engelmann, the company’s U.S. general counsel, in the statement.

More HERE

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