Corporate
Mar. 3, 2011
Abbott Argues Price Hike Was Justified
Trying to ward off plaintiffs' claims of antitrust violations, an attorney for Abbott Laboratories argued in federal court Tuesday that his client had every right to raise the price of its HIV drug by 400 percent.
Daily Journal Staff Writer
OAKLAND - Abbott Laboratories had every right to raise the price of an HIV drug by 400 percent, the company's attorney told jurors Tuesday as it faces off against four sets of plaintiffs in an antitrust case related to the price hike.
Pointing out that the $1.71 daily price of the drug before the increase was about the price of "a medium French fry at McDonalds," Abbott's attorney ...
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