Posts Tagged 'shire'

Shire Settlement over Drug Marketing Totals $56.5 Million

In a recent announcement from the U.S. Department of Justice, a whistle-blower lawsuit against the major pharmaceutical company Shire resulted in a $56.5 million settlement. An article in First Word Pharma reports that the Shire CEO is “pleased to have reached a resolution” over the improper marketing of a number of its drugs.

The lawsuit claims that the company “violated the False Claims Act by improperly marketing and promoting several drugs.” The claim alleged ...

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Androgel Manufacturer Drops Plan to Purchase Shire

First Word Pharma reports that Androgel maker AbbVie has abandoned its plan to buy out pharmaceutical maker Shire. AbbVie says the bid for Shire was withdrawn in light of recent U.S. tax law changes. As a result of the failed deal, AbbVie will have to pay $1.6 billion to Shire and will be unable to make another offer to purchase the company for at least a year.

The Androgel maker was recently in the news over ...

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