Context:

Hawaii's attorney general announced that pharmaceutical companies have settled a lawsuit for $700 million over the blood thinner Plavix's efficacy and safety. Initially, a court ordered Bristol Myers Squibb and Sanofi's subsidiaries to pay $916 million, but a settlement was reached for the lower amount before an appeal could proceed. The companies expressed satisfaction with resolving the litigation and emphasized Plavix's role in treating cardiovascular diseases globally. Concerns arose from findings that around 30% of patients, especially non-Caucasians, might experience reduced effectiveness of Plavix, and labels were not updated accordingly. Although neither company admitted wrongdoing, the settlement was hailed as a significant victory by Hawaii's governor, with the payment to be completed by June 9.

Dive Deeper:

• Hawaii's lawsuit against Bristol Myers Squibb and Sanofi involved the blood thinner Plavix, focusing on its efficacy and safety, leading to a $700 million settlement agreement.

• A previous court ruling mandated a $916 million payment from the companies; however, a settlement was reached for $700 million before an appeal took place.

• The companies issued a joint statement highlighting their commitment to innovation in medicine and the global endorsement of Plavix as a first-line therapy for cardiovascular disease.

• Concerns stemmed from a court finding that about 30% of patients, particularly those who are non-Caucasian, might have a reduced response to Plavix, yet the drug's labeling was not updated.

• Neither Bristol Myers Squibb nor Sanofi admitted to any wrongdoing as part of the settlement agreement.

• Governor Josh Green described the settlement as a 'landmark' and 'major victory' for the state of Hawaii.

• The $700 million settlement amount will be equally divided between the two companies, with payments to be completed by wire transfer by June 9.