Abbott, Takeda Venture May Settle Case

Abbott Laboratories and Takeda Chemical Industries’ joint venture might pay millions of dollars to settle allegations it improperly induced doctors to prescribe the prostate-cancer drug Lupron, the Wall Street Journal reported. The venture, TAP Pharmaceutical Products Inc., is talking with Justice Department prosecutors in Boston about settling criminal and civil charges stemming from a long-running investigation into the marketing of Lupron, the Journal reported, citing unidentified people familiar with the case. TAP might plead guilty to breaking a law that forbids drug makers from conspiring with doctors to bill insurers for drugs they receive for free, the Journal said. The proposed penalty is close to the $840-million fine that HCA--The Healthcare Co. agreed to pay to settle fraud charges last year, the newspaper said. That was the largest health-fraud settlement ever. “There’s been no indictment or settlement, and no action has been taken against the company,” said Kim Modory, a TAP spokeswoman. She declined to comment further. Shares of Abbott, based near Chicago in Abbott Park, Ill., fell $1.84 to close at $47.66 on the NYSE.