Wall Street Journal (01.24.13)
The pharmaceutical company Bristol-Myers Squibb has agreed to pay $80 million to settle cases involving 15 patients who either died or were hospitalized while participating in company-sponsored testing of the experimental hepatitis C drug informally identified as 094. A Bristol spokesperson says there is “an agreement in principle to settle the matters that were in mediation,” but also stated the terms were confidential. The tentative settlement will resolve legal issues the drug maker has been dealing with since halting development of the hepatitis C treatment in August 2012 after one death and several hospitalizations during testing. Drug 094 was the highly anticipated highlight of Bristol’s 2012 $2.5 billion acquisition of Inhibitex, which initially developed the pill.