A federal jury in California has awarded GlaxoSmithKline (NYSE: GSK) $3.5 million in a law suit against Abbott Labs over the pricing of Abbott’s HIV drug Norvir.
GSK had said Abbott caused it $570 million in damages, claiming Abbott had tried to limit competition by quadrupling the price of Norvir. GSK used Norvir as part of an AIDS “cocktail” in one of its HIV drugs. GSK was seeking tripling of damages.
The jury rejected claims that Abbott was trying to maintain a monopoly.
“We are disappointed that the jury did not agree with our belief about the magnitude of the harm caused by Abbott’s misconduct,” Marc Meachem, a GSK spokesman, said in an e-mailed statement to Bloomberg news. “We understand and accept the jury’s view.”
For Bloomberg coverage of the trial, read here.
For Reuters coverage of the trial, read here.
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