Pharmaceutical companies have agreed to pay Hawaii $700 million to settle its lawsuit over the efficacy and safety of the blood thinner Plavix, the state attorney general’s office announced Friday.
A court ruling last year ordered Bristol Myers Squibb Company and three U.S.-based subsidiaries of French pharmaceutical company Sanofi to pay a combined $916 million.
But before an appeal was decided, a settlement was reached for the lower amount, the attorney general’s office said.
In a joint statement, the companies said they “are pleased to resolve this litigation, and to continue their companies’ focus on discovering, developing, and delivering innovative medicines to patients.”
“Plavix has helped millions of people with cardiovascular disease around the world for nearly 30 years and it continues to be endorsed as a first-line therapy by leading treatment guidelines across the globe,” the statement added.
First Circuit Court Judge James Ashford found that there was a risk that about 30% of patients, particularly non-Caucasians, might have a “diminished response” to Plavix but the companies did not update their labels, Attorney General Anne Lopez said last year.
Neither company has admitted wrongdoing.
Hawaii Gov. Josh Green called it a “landmark settlement” and a “major victory” for the state.
The settlement divides the $700 million equally between Bristol Myers Squibb and Sanofi, with the funds to be paid by wire transfer by June 9, the attorney general’s office said.