Amgen settles J&J antitrust lawsuit

Source: Healthcare Digital

Date :14/07/2008 03:43:50

Amgen Inc said July 11 that has settled its antitrust lawsuit with Ortho Biotech Products LP, a subsidiary of Johnson & Johnson.

The biotechnology company will pay Ortho Biotech US$200 million to settle the lawsuit which drug discounts offered by Amgen violated antitrust laws.

The pending litigation in New Jersey District Court will be dismissed with prejudice, the company said.

Amgen said that its conduct was not unlawful and it admits to no wrongdoing.

Johnson & Johnson said it expects to record an after-tax gain of about US$120 million in the third quarter 2008 due to the settlement.