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Drug Companies Lose Suit
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Business New Haven
12/14/1998
By: BNH
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WASHINGTON - A Superior Court judge in Washington, D.C. has ruled that several large pharmaceutical companies including Bristol Myers Squibb Co. (NYSE: BMY) and Pfizer Inc. (NYSE: PFE) will be required to pay over $63 million to ten states and the District of Columbia. The suit, filed two years ago by a resident of Washington, D.C., charged that the companies conspired to eliminate competition by offering lower prices to HMOs. Customers shopping at retail stores were paying higher prices than those offered by drug mail order and HMO's.
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