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Settlement proposed in class action suit for Schering-Plough

This article was originally published in Scrip

Executive Summary

Schering-Plough has agreed to pay $165 million to settle a US class action lawsuit that claimed that the company misled investors before announcing on February 15th, 2001 that the FDA would withhold approval of its Claritin successor, Clarinex (desloratadine), until quality control problems were resolved at four of its US plants, according to lawyers representing the plaintiffs in the shareholder suit.

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