CSL reaches price-fixing settlement

CSL will pay just US$64m of the US$1bn several North American hospitals had claimed in a four-year legal battle over alleged price fixing that has cost CSL more than $20m. The class action alleged that CSL conspired for seven years with its major competitor, US-listed Baxter, to fix the price of the company’s two dominant blood products – immunoglobulin and albumin. CSL was accused of orchestrating the cartel following the rapid swings between shortage and oversupply of plasma in the late 1990’s and early 2000's. New chief executive officer, Paul Perreault, rejected the allegations but said 'to pursue the...

CSL will pay just US$64m of the US$1bn several North American hospitals had claimed in a four-year legal battle over alleged price fixing that has cost CSL more than $20m. The class action alleged that CSL conspired for seven years with its major competitor, US-listed Baxter, to fix the price of the company’s two dominant blood products – immunoglobulin and albumin.

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