The FTC claims that AbbVie’s lawsuits were “baseless” and the company should refund customers who paid hundreds of millions of dollars for AndroGel. Consumers could have purchased cheaper versions of the drug had AbbVie not sued the companies.
“Our patent infringement lawsuits were appropriate and our settlement agreements were lawful, as well as in the best interest of all parties,” said AbbVie in a statement.
ABBV stock is up about 2.6% Tuesday afternoon.
More Stocks to Watch:
- SinoCoking (SCOK) Stock Shoots Up More Than 150% on New Coal Project
- Annie’s (BNNY) Stock Soars on $820M General Mills Deal
- TTWO Stock Jumps on Grand Theft Auto Movie Buzz