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Judge Dismisses FTC's Schering-Plough Case

July 03, 2002|Associated Press

A judge dismissed Federal Trade Commission charges that Schering-Plough Corp. and Upsher-Smith Laboratories Inc. colluded to set prices for a blood pressure drug.

The decision by an FTC administrative law judge is a defeat for the FTC's concerted push against what it sees as a pattern of anti-competitive practices within the drug industry that is keeping cheap generics off the market.

The FTC had alleged that Schering-Plough, the maker of K-Dur 20, illegally paid pharmaceutical firms millions of dollars to induce them to delay launching generic versions of the drug.

Shares of Schering-Plough fell $1.14 to $22.36 on the New York Stock Exchange.

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