Hawaii court rules against Bristol Myers and Sanofi in blood-clotting drug case, raises liability to $916 million

A judge in Hawaii reportedly ordered Bristol Myers Squibb & Co (NYSE:BMY) and Sanofi TO (NASDAQ:SNY) to pay the state more than $916 million for failing to warn non-white patients about the health risks associated with their blood thinner Plavix.

This decision marks an increase from a previous judgment of $834 million.

The ruling by Hawaii First Circuit Court Judge James Ashford follows a non-jury trial last fall and is the second trial in the case. The state Supreme Court previously found a legal error in the first trial that led to the original $834 million award.

Hawaii has accused the companies of violating consumer protection laws by marketing Plavix without disclosing that it may be less effective or even ineffective for certain people, particularly those in East Asia and the Pacific Islander region.

Plavix, known generically as clopidogrel, is used to prevent blood clots that can cause strokes and heart attacks.

Its activation is based on the body’s enzymes, which can vary due to genetic differences. Studies have shown that about 14 percent of Chinese patients cannot metabolize the drug properly, compared to 4 percent of black patients and 2 percent of white patients.

Despite the FDA issuing a warning label for Plavix in 2010 to reflect these findings, the Hawaii lawsuit points out that the companies continued their marketing practices without sufficient warnings to non-white patients.

In response to the ruling, Reuters noted that Bristol Myers and Sanofi released a joint statement expressing their disagreement with the decision and their intention to appeal.

The Hawaii case underscores ongoing legal challenges for the pharmaceutical giants as they also face a similar lawsuit in the state of New Mexico.

Price action: Shares of BMY were up 1.04% at $42.71 and SNY was up 2.10% at $49.98 when last checked on Wednesday.

Disclaimer: This content was produced in part using AI tools and was reviewed and published by Benzinga editors.

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This article Hawaii Court Rules Against Bristol Myers, Sanofi In Blood Clot Case Increases Liability To $916M originally appeared on Benzinga.com

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