Announced in early May, Hawaii reached a $700 million settlement with two major pharmaceutical companies: Bristol-Myers Squibb and three US-based subsidiaries of Sanofi.
Filed in 2014, the lawsuit accused the two pharmaceutical companies of misleading marketing practices with their prescription medications.
“This is the largest settlement we’ve ever seen in our state,” said Hawaii Governor Josh Green.
“Let me say this, it’s a historic result that we’re grateful for, gratified by. I’m proud of the work by the Attorney General and her team. This result will help the state of Hawaii.”
The two companies will pay $350 million each, with the full $700 million expected to be wired to the state by June 9, 2025. The payment will be deposited into Hawaii’s general fund.
The lawsuit highlighted that the companies violated Hawaii’s consumer protection laws.
“I also want to be clear—while this money is substantial, it is important to me that everyone who does business in the state of Hawaii, whether you’re a small shop or a multibillion-dollar oil company, knows the Attorney General’s Office will be relentless in our pursuit of consumer protection laws,” said Hawaii Attorney General Anne Lopez.
Once the wire payment is completed, the next step will be to identify areas where the funds can be used to serve Hawaii residents, according to state officials.
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