AstraZeneca pays out million dollar damages
TT/The Local - [email protected]
Published: 9 Aug, 2010 CET.
Updated: Mon 9 Aug 2010 10:59 CET
Anglo-Swedish pharmaceuticals firm AstraZeneca has agreed to pay $198 million in damages to around 17,500 people in the USA in connection with the alleged side effects of its Seroquel drug.
The firm had made no reservation of the funds in its accounts by June 30th and the AstraZeneca's profits forecast of $6.35-6.65/share remains.
The company has been sued by 22,000 Americans in connection with side effects from the drug, among other things a heightened risk for diabetes.
"The details of the agreement have been reached after mediation and are confidential. AstraZeneca continues to participate in the mediation process which concerns writs in both state and federal courts," the firm confirmed in a statement.
Seoquel is a medication used in connection with schizophrenia.
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The firm had made no reservation of the funds in its accounts by June 30th and the AstraZeneca's profits forecast of $6.35-6.65/share remains.
The company has been sued by 22,000 Americans in connection with side effects from the drug, among other things a heightened risk for diabetes.
"The details of the agreement have been reached after mediation and are confidential. AstraZeneca continues to participate in the mediation process which concerns writs in both state and federal courts," the firm confirmed in a statement.
Seoquel is a medication used in connection with schizophrenia.
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