American Home Settles Collusion Charges
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American Home Products Corp. agreed to settle U.S. charges it colluded with Schering-Plough Corp. to keep a low-cost version of a popular heart drug off the market for 51/2 years, the Federal Trade Commission said.
American Home Products’ agreement not to make deals with rivals to keep low-cost versions of brand-name drugs off the market is the third settlement in the FTC’s investigation of alleged collusion between makers of branded and generic drugs.
The FTC had accused American Home Products of agreeing to receive payments totaling $30million from Schering-Plough to delay for 51/2 years sales of its low-cost alternative to Schering’s K-Dur 20 potassium chloride supplement.
Madison, N.J.-based American Home Products’ shares fell 36 cents to $62.79 on the NYSE.
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