Abbott Laboratories pinched its Norvir legal troubles in the bud, settling antitrust claims for $10 million to $27.5 million. Filed by AIDS patients over a 400 percent price hike, the lawsuit could have led to up to $1 billion in damages if it had gone to trial as scheduled August 18. Of course, the plaintiffs would have had to prove that Abbott raised Norvir's price to stifle competition.
Norvir, as you know, is a key component of several drug cocktails commonly used to treat HIV-positive patients, and it's one component of Abbott's combo pill Kaletra. The plaintiffs alleged that Abbott hiked the standalone price of Norvir to drive patients to Kaletra.