AstraZeneca Announces Agreements in Principle in Seroquel Product Liability Litigation
Publication date: 9 August 2010
Author: AstraZeneca
Tagged with: AstraZeneca
AstraZeneca announced today that, as of 9 August, it had reached agreements in principle on monetary terms with attorneys representing approximately 17,500 SEROQUEL product liability claimants in the United States for approximately $198 million. The agreements in principle are subject to agreement on non-monetary terms.
As of 30 June 2010, no provision had been made in respect of any settlements. Any provision would be disregarded in calculating Core earnings and, as such, the Company’s Core earnings per share guidance for 2010 remains unchanged at $6.35-$6.65.
The specific terms of the agreements, which are the result of court-ordered mediation, are confidential. AstraZeneca continues to participate in the mediation process covering claims in both federal and state jurisdictions.
As of 29 June, approximately 2,900 additional cases have been dismissed by order or agreement and approximately 1,825 of those cases have been dismissed with prejudice. The only jury trial to date resulted in a defence verdict in favour of AstraZeneca.
Email newsletter
If you enjoyed this article sign-up to receive our bi-weekly email newsletter:
Latest news
- GSK injects $60 million and 58 jobs into Victoria (6 February 2012)
- Merck provides update on development program for Suvorexant (6 February 2012)
- Novartis drug Galvus® approved in EU for monotherapy use in patients with type 2 diabetes unable to take metformin (6 February 2012)
- Tecan and Artel partner to produce unique, fully integrated QC Kit for Freedom EVO® workstations (6 February 2012)
- Expiration of the Hart-Scott-Rodino waiting period for acquisition of Inhibitex, Inc. (3 February 2012)
PAT supplement
This free to view PAT supplement is sponsored by Sartorius, Extrel, ABB, Bruker Optics and FOSS NIRSystems:
Company directory
ABB Analytical Measurements | Almac | BD Diagnostics | Bio-Optronics, Inc. | bioMérieux | BioTek Instruments, Inc. | Bruker Daltonik GmbH | CAMO Software AS | CI Precision | Cisbio Bioassays | Colder Products Company | Expo Technologies, LLC. | Freeman Technology | GE Analytical Instruments | HACH LANGE GMBH | HORIBA Scientific | Hudson Robotics, Inc. | Natoli Engineering Company, Inc. | Peter Huber Kältemaschinenbau GmbH | Randox Pharma Services | Rapid Micro Biosystems | Synbiosis | Syngene | Watson-Marlow Pumps Group |
Login to access exclusive content