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Articles > Online Prescriptions

N.Y. Sues Drug Firms

Forbes.com Video Network
Tuesday, February 18, 2003
Davide Dukcevich, 02.13.03, 5:16 PM ET

NEW YORK - In the news this hour, the state of New York has brought a lawsuit against GlaxoSmithKline (nyse: GSX - news - people ) and Pharmacia (nyse: PHA - news - people ), alleging the pharmaceutical giants illegally inflated the price of prescription drugs.

In the lawsuit, State Attorney General Eliot Spitzer is charging the firms with consumer fraud, commercial bribery and making false statements to government health plans.

Spitzer said those practices resulted in massive overpayments by those health plans. A third drugmaker, Aventis Pharmaceuticals (nyse: AVE - news - people ), received a pre-litigation notice.





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