Akzo Nobel this morning said it had settled the remaining antitrust claims concerning its antidepressant, Remeron (mirtazapine), for $75 million dollars. The lawsuits, filed by drug wholesalers, claimed Akzo Nobel’s conduct involving a Remeron patent delayed the market introduction of copycat therapies. They also claimed that the patent, which covers the use of the product in combination with the selective serotonin reuptake inhibitor class of antidepressants, violated antitrust laws [[01/10/04d]], [[16/04/04b]].
Despite the settlement, which still has to be approved by the Federal District Court of New Jersey, Akzo stresses that it does not accept any wrongdoing, but that “given the time, costs and risks involved in defending the action, the company took the opportunity to resolve the matter.”
US generic competition to Remeron has hit Akzo hard, forcing it to restructure its Organon pharmaceuticals unit [[211003a]]. But the firm seems to be on the mend and quarter two net income rose 22% to 182 million euros, climbing 66% to 469 million euros on a six monthly basis [[20/07/05f]].
