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Bristol-Myers, Sanofi Fined $834M In Hawaii Over Plavix: Bloomberg

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  • Bristol-Myers Squibb Co (NYSE: BMY) and Sanofi SA (NASDAQ: SNY) were ordered to pay the state of Hawaii more than $834 million for illegally marketing their blood-thinning drug Plavix, Bloomberg reports.
  • Hawaii Attorney General Clare Connors’ lawyers showed the companies didn’t adequately disclose the blood thinner was ineffective for as many as 30% of users in the state, the judge said.
  • “The court’s ruling is unsupported by the law and at odds with the evidence at trial,” the companies said in a joint statement. The companies said they would appeal.
  • Price Action: BMY shares were down 0.5% at $59.68, and SNY decreased 0.53% at $47.33 in market trading hours on the last check Tuesday.
 

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