financetom
Business
financetom
/
Business
/
Bristol Myers, Sanofi liability in Hawaii Plavix case grows to $916 million
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Bristol Myers, Sanofi liability in Hawaii Plavix case grows to $916 million
May 22, 2024 10:13 AM

(Reuters) - A judge in Hawaii on Tuesday ordered Bristol Myers Squibb ( BMY ) and Sanofi to pay more than $916 million to the state for failing to warn non-white patients of health risks from its blood thinner Plavix, up from an earlier judgment of $834 million.

The ruling from Judge James Ashford, of Hawaii's First Circuit Court, follows a non-jury trial held last fall. It was the second trial in the case, after the state's Supreme Court found that the judge in the first trial that resulted in the $834 million award had made a legal error.

"Once actually received by the state general fund, I anticipate that this award will provide greater healthcare services to the people of Hawaii," Governor Josh Green, a Democrat, said in a statement.

France-based Sanofi and U.S. drugmaker Bristol Myers said in a joint statement that they disagreed with the decision and would appeal. "The overwhelming body of scientific evidence demonstrates that Plavix is a safe and effective therapy, regardless of a patient's race or genetics," they said.

Hawaii alleged the companies violated state consumer protection laws by marketing Plavix without disclosing that the drug could have a diminished or no effect for some people, particularly of East Asian and Pacific Island ancestry.

Plavix, known generically as clopidogrel, is prescribed to prevent blood clots that can lead to strokes and heart attacks. The blood thinner needs to be activated by the body's own enzymes, which can vary genetically.

Studies have shown that about 14% of Chinese patients are unable to metabolize the drug properly, compared with 4% of Black and 2% of white patients.

The U.S. Food and Drug Administration in 2010 issued a Plavix warning label to reflect that information.

Bristol Myers and Sanofi still face a similar lawsuit over Plavix by the state of New Mexico.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Ecopetrol's Reficar refinery awarded nearly 20% of McDermott common capital, company says
Ecopetrol's Reficar refinery awarded nearly 20% of McDermott common capital, company says
Mar 21, 2024
BOGOTA, March 21 (Reuters) - The Reficar oil refinery belonging to Colombia's Ecopetrol was awarded 19.9% of the common capital in infrastructure firm McDermott in preferential shares by a judge in Amsterdam, Ecopetrol said in a statement on Thursday. The refinery is located in the Colombian city of Cartagena. ...
Oil eases on possible Gaza ceasefire, dollar strength
Oil eases on possible Gaza ceasefire, dollar strength
Mar 21, 2024
SINGAPORE (Reuters) -Oil prices slipped on Friday on the possibility of a nearing Gaza ceasefire that could ease geopolitical concerns in the Middle East, while a stronger dollar and faltering U.S. gasoline demand also weighed on prices. Brent crude futures fell 42 cents, or 0.5%, to $85.36 a barrel by 0203 GMT. U.S. crude futures shed 40 cents, or 0.5%,...
Meta's Instagram down for thousands, Downdetector shows
Meta's Instagram down for thousands, Downdetector shows
Mar 21, 2024
March 21 (Reuters) - Meta Platforms's ( META ) Instagram was down for thousands of users on Thursday, according to outage tracking website Downdetector.com. ...
Hong Kong-listed Samsonite plans dual listing in hunt for investors
Hong Kong-listed Samsonite plans dual listing in hunt for investors
Mar 21, 2024
(Reuters) -Luggage maker Samsonite International ( SMSOF ) on Friday said it plans to pursue a dual listing in addition to its listing on the Hong Kong Stock Exchange to increase the liquidity of its shares and reach investors in more markets. Samsonite ( SMSOF ) did not provide details of the exchanges it is considering for the second listing,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved