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$1.7 Million Sent to Ohioans in Antitrust Settlement
COLUMBUS, Ohio -- Checks for Ohioans making valid claims in a $100 million settlement with Bristol-Myers Squibb Co., Watson Pharma Inc. and Danbury Pharmacal Inc. were mailed yesterday, according to state Attorney General Jim Petro.A total of 2,693 Ohio residents filed claims, resulting in payments totaling more than $1.7 million. Nationwide, 57,474 payments to claimants were sent out totaling nearly $37.2 million. The average consumer payment amount is $646.97, Petro says.Ohio prosecuted the lawsuit along with 34 other states, the District of Columbia and Puerto Rico, alleging that the defendants violated antitrust laws that prevented a generic form of the anti-anxiety drug BuSpar from coming to market.The checks reimburse consumers who filed valid claims for the entire damages period allowed by the court (effectively, Jan. 1, 1998, through Jan. 31, 2003). Consumers who provided proof of buspirone purchases before the claims period closed will receive full financial compensation for damages.In addition, Ohio will receive more than $5 million in compensation for damages suffered by state and local agencies as a result of the alleged anti-competitive conduct, Petro says.The settlement agreement also contains strong injunctive relief that will prevent Bristol Meyers Squibb from repeating the type of conduct alleged in the complaint. The company cannot re-list the patent at issue and certain other types of patents if they would unreasonably delay generic entry. Additionally, the company cannot make false statements or misrepresentations to the U.S. Food and Drug Administration nor agree with generic drug manufacturers to settle patent infringement suits if the deal would adversely affect competition.The injunction has a 10-year term. The proposed injunction was negotiated in coordination with the Federal Trade Commission."