January 21, 2005
Bristol-Meyers Pays $160,000 To N.M.
The Associated Press
SANTA FE Pharmaceutical giant Bristol-Myers Squibb Co. has paid about $155,000 to New Mexico as the state's share in the settlement of an antitrust lawsuit.
Bristol reached a settlement in April 2003 to distribute $55 million to all 50 states, Attorney General Patricia Madrid said Friday.
The company was accused of overcharging health care services for the cancer-fighting drug Taxol and Children's Motrin, said Sam Thompson, a spokeswoman for Madrid.
"Health care costs keep rising, a problem not just in New Mexico but nationwide," Madrid said. "The fact that the problem was exacerbated here by a drug company overcharging cannot be tolerated."
Madrid's office will receive $58,131, the state Risk Management Division will receive $47,351 and the University of New Mexico Health Sciences Center will get $49,167.