!! History Commons Alert, Exciting News
Profile: Geneva Pharmaceuticals
Geneva Pharmaceuticals was a participant or observer in the following events:
Abbott Laboratories, maker of the drug Hytrin, agrees to pay rival drug company Zenith Goldline Pharmaceuticals up to $42 million not to produce a generic version of Hytrin, a drug for high blood pressure and prostate enlargement. For three years Abbott, whose patent on Hytrin expired in 1995, has been fighting Zenith in court to prevent it from marketing a cheaper generic. Abbott currently earns about $500 million a year on the drug. After signing its agreement with Zenith, Abbott inks a similar deal with another rival, Geneva Pharmaceuticals, agreeing to pay that company as much as $101 million to keep its generic version of Hytrin off the market. Geneva and Abbott will abandon their agreement a year later when the federal government launches an antitrust investigation. Consumers will sue Abbott and Geneva charging that the companies’ agreement cost patients hundreds of millions dollars. [New York Times, 7/23/2000]
Receive weekly email updates summarizing what contributors have added to the History Commons database
Developing and maintaining this site is very labor intensive. If you find it useful, please give us a hand and donate what you can.
If you would like to help us with this effort, please contact us. We need help with programming (Java, JDO, mysql, and xml), design, networking, and publicity. If you want to contribute information to this site, click the register link at the top of the page, and start contributing.