AZ pays $198m to settle Seroquel claims

DRUGS giant AstraZeneca has paid out $198m to settle claims in the US brought against the firm in relation to its Seroquel drug.

The company, which employs around 7,000 people at its Alderley Park and Macclesfield facilities, paid the money to a class action brought by 17,500 claimants, which is used to treat schizophrenia and bipolar disorders.

It said the terms of the agreement, which was the result of court-ordered mediation, were confidential.

However, it added that 2,900 additional cases that have already been brought against the drug have been dismissed and that It had successfully defended the only trial brought against the firm regarding the drug to date.

Seroquel’s worldwide sales last year reached $4.9bn.