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Biotech / Medical : Biotech Short Candidates -- Ignore unavailable to you. Want to Upgrade?

To: Biomaven who wrote (424)	3/5/2003 1:17:30 PM
From: tuck	Respond to of 897

>>WASHINGTON (Dow Jones)--MedImmune Inc. said it was one of 26 pharmaceutical and biotechnology companies named in a lawsuit by the County of Suffolk, New York, that alleged it overpaid for prescription drugs covered by Medicaid. The accusations against MedImmune involved Synagis, a treatment for respiratory syncytial virus. According to MedImmune's annual report, filed Tuesday with the Securities and Exchange Commission (News - Websites), Suffolk County accused the defendants of manipulating the average wholesale price and failing to report the "best price" under Medicaid. MedImmune said it believes it has meritorious defenses to the claims and it will defend itself vigorously. The lawsuit, filed Jan. 14 in the U.S. District Court for Eastern New York, asserts claims under the federal Racketeer Influenced and Corrupt Organizations Act, or RICO, as well as various state, statutory and common laws to recover monetary damages, civil penalties, declaratory and injunctive relief, and treble and punitive damages, and to have the defendants relinquish the profits, the filing said. MedImmmune didn't identify the other defendants. -By Robert L. Grant, Dow Jones Newswires; 202-393-7851; robert.grant@dowjones.com << BTW, good discussion folks, please keep it up. Cheers, Tuck