CSL settles plasma price-fixing case for $64M
Australia's CSL Ltd. agrees to pay $64 million to settle a price-fixing lawsuit over plasma therapy.Australia's CSL Ltd. agrees to pay $64 million to settle a price-fixing lawsuit over plasma therapy.
CSL Ltd.  said it agreed to pay $64 million to settle multi-district litigation accusing it of taking part in a price-fixing scheme for plasma therapy.
The settlement also clears a co-defendant in the case, the Plasma Protein Therapeutics Assn., CSL said. The deal must still be approved by a judge in the U.S. District Court for Northern Illinois, which is overseeing the MDL.
"While we continue to strongly reject any allegation of wrongdoing, we have negotiated a settlement of the litigation which we believe is in the best interests of the company and our shareholders. To pursue the case further would have required several more years of management time and focus as well as substantial additional legal costs with no absolute certainty of the outcome," CEO Paul Perreault said in prepared remarks.