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Abbott may have unlawfully impeded generic competition for its drug Tricor.
Investigation Source
- Nationwide
Investigation Scope
Category Information
Investigation Topics
- Over Charge
- Price Fixing
- Anti-Competitive Behavior
- Overcharging for Drug
Products or Services
- Doctors
- Hospitals
- Healthcare Organizations
- Health Care Provider
- Tricor
Injury Type
- Monetary Loss
Investigation Details
Investigation and a pending class action lawsuit brought on behalf of direct purchasers for the branded drug, Tricor.
Tricor is manufactured and sold by defendants Abbott Laboratories and Fournier Industrie et Sante and Laboratoires. The class action complaint alleges that Abbott manipulated the Hatch Waxman Act, a federal statute which ordinarily encourages the entry of less expensive, generic drugs. However, Abbott used restrictions within the statute to impede generic competition. Abbott "hopped" from one formulation of Tricor to another, each time cannibalizing the product for its old product and attempting to destroy the market for generic competitors.
Abbott is also accused of defrauding the U.S. Patent and Trademark Office into issuing patents.
Do not change medications without first consulting your doctor.
Tricor is manufactured and sold by defendants Abbott Laboratories and Fournier Industrie et Sante and Laboratoires. The class action complaint alleges that Abbott manipulated the Hatch Waxman Act, a federal statute which ordinarily encourages the entry of less expensive, generic drugs. However, Abbott used restrictions within the statute to impede generic competition. Abbott "hopped" from one formulation of Tricor to another, each time cannibalizing the product for its old product and attempting to destroy the market for generic competitors.
Abbott is also accused of defrauding the U.S. Patent and Trademark Office into issuing patents.
Do not change medications without first consulting your doctor.
Defendant Details
| Name (Stock Symbol) | Brief Description |
|---|---|
| Abbott (ABT) | Abbott is a medical devices and pharmaceutical company with almost $30 billion in sales for 2008. Abbott employees 72,000 people worldwide at over 100 locations |
| Fournier Industrie et Sante and Laboratoires | Fournier Industrie et Sante and Laboratoires appears to be a pharmaceutical company that was a subsidiary of Fournier Pharma, which was acquired by Solvay SA in 2005. |