Investigation and a pending class action lawsuit against Schering-Plough, Upsher-Smith and American Home Products on behalf of a class of direct purchasers of the brand-name drug K-Dur 20.
K-Dur 20 is a potassium chloride supplement used to treat patients with depleted potassium. The class action lawsuit alleges that Schering-Plough, Upsher-Smith, and American Home Products violated federal antitrust law by entering into written, anticompetitive agreements under which Schering-Plough paid its rival generic manufacturers, Upsher-Smith and American Home Products, $90 million to delay the market entry of their generic versions of K-Dur 20. The class claims that, as a result of these anti-competitive agreements, purchasers of K-Dur 20 were forced to pay artificially high prices for the drug entity sold as K-Dur 20. One defendant, American Home Products, has agreed to settle with a class of direct purchasers of K-Dur 20 for $2.1 million and other consideration. Litigation against the remaining defendants is ongoing.
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Name (Stock Symbol)
Schering-Plough Corporation (SGP)
Schering-Plough Corporation discovers, develops, manufactures, and sells pharmaceuticals worldwide.
Upsher-Smith Laboratories, Inc.
Upsher-Smith Laboratories, Inc. is a pharmaceutical company.
American Home Products (WYE)
American Home Products changed its name to Wyeth. It is one of the largest pharmaceutical companies in the world.
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