State of New York, et al. v. Bristol-Myers Squibb Company, et al.

Michigan Attorney General Mike Cox announced today that Michigan will receive over $3 million as part of its settlement with the Bristol-Myers Squibb Company, the makers of Buspar®. The settlement stems from an antitrust case which alleged fraudulent conduct and price-fixing on the part of Bristol-Myers Squibb.

"When a company tries to circumvent the market to charge consumers more, there needs to be repercussions," Cox said. "I'm pleased that not only has this settlement given back to those individuals affected by the actions of Bristol-Myers Squibb but also to the State of Michigan. This sends a very clear message: unethical behavior will simply not be tolerated."

In the settlement, Michigan will get back over $3 million for Medicaid, the active and retired State Employees' Health Plan, the Michigan Public School Employees' Retirement Health Plan, the former Michigan Emergency Pharmaceutical Program for Seniors (MEPPS, now Elder Prescription Insurance Coverage [EPIC]), and Michigan prisons.

The settlement was reached in an antitrust case filed in the United States District Court for the Southern District of New York. Michigan joined the other 49 states, the District of Columbia, and U.S. territories in this lawsuit. Claims were made on behalf of the states and for consumers who paid for Buspar® and its generic equivalent buspirone HCL. The lawsuit asserted that Bristol-Myers Squibb Company engaged in fraudulent conduct and conspired with a potential competitor to prevent the entry of generic competitors and to illegally maintain its monopoly in the United States over the sale of the drugs. Bristol-Myers Squibb Company denied any wrongdoing or liability.

In November 2003, the federal court approved a settlement negotiated by the Attorneys General on behalf of the states and consumers in all the states and territories. Last July, Cox announced that nearly $900,000 would be refunded to the 1,486 Michigan consumers who submitted timely and valid claims for purchases of Buspar® or its generic form buspirone HCL as a result of a settlement.