In a significant development, pharmaceutical companies have reached an agreement to pay the state of Hawaii $700 million to resolve a lawsuit concerning the blood thinner Plavix, according to a statement released by the state’s attorney general’s office on Friday.
This settlement comes after a court ruling last year that ordered Bristol Myers Squibb and three subsidiaries of the French pharmaceutical firm Sanofi to collectively pay $916 million. However, before the appeals process progressed, the parties agreed to settle for the lesser amount, as indicated by the attorney general.
In a joint statement, the companies expressed their satisfaction with the resolution of this litigation and reaffirmed their commitment to pursuing the discovery, development, and delivery of innovative medications to patients worldwide. They emphasized that Plavix has been beneficial to millions globally suffering from cardiovascular issues for almost three decades and continues to be recommended as a primary therapy in prominent treatment guidelines around the world.
Judge James Ashford from the First Circuit Court previously highlighted concerns regarding the potential for around 30% of patients, particularly those who are non-Caucasian, to experience a “diminished response” to Plavix, yet the companies failed to modify their labels accordingly, as noted by Attorney General Anne Lopez last year. Despite this, neither company has admitted to any wrongdoing in the case.
Governor Josh Green hailed the settlement as a “landmark” achievement and a “major victory” for Hawaii. The financial agreement mandates that Bristol Myers Squibb and Sanofi each pay $350 million, and these funds are to be delivered via wire transfer by June 9, as per the attorney general’s office.