FDAnews Drug Daily Bulletin

XECHEM SETTLES ANTITRUST LAWSUIT AGAINST BRISTOL-MEYERS SQUIBB FOR $4.2 MILLION

Dec. 21, 2005
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Xechem International, Inc. (OTC BB: XKEM) Xechem International announced today that it has settled its antitrust lawsuit against Bristol-Meyers Squibb Co. for $4.2 million. Court files reveal that the case against Bristol-Meyers, which was brought in federal district court in Chicago in 2003, was based on Xechem's allegations that Bristol-Meyers had engaged in anticompetitive practices relating to Xechem's efforts to manufacture and bring to market the drug paclitaxel, a generic equivalent of Bristol's cancer drug, TAXOL(R).

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