| |
Thursday, November 4, 1999
Vitamin cos pay $ 1 bn to settle suit
REUTERS
WASHINGTON, NOV 3: Sven big vitamin manufacturers were expected to sign an agreement on Wednesday to pay $1.05 billion to settle a civil suit over price-fixing of vitamins, a source said. Involved in the settlement were Roche Holding, Hoechst AG, BASF AG, Rhone-Poulenc SA, Takeda Chemical Industries, Eisai and Daiichi Pharma, the source said.The companies are settling claims that they fixed prices for bulk vitamins that were sold for use in foods and in animal feed. Previously, all but one of the seven companies pleaded guilty of criminal price-fixing charges in the US. Rhone-Poulenc escaped criminal charges by co-operating with the government. Plaintiffs in the class-action civil suit will get back about 20 per cent of the price they paid for the bulk vitamins. Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.

Top
|
|