LAWFUEL – The Legal Newswire – Drugs firm Goldshield has settled a pri…

LAWFUEL – The Legal Newswire – Drugs firm Goldshield has settled a price-fixing lawsuit with the Department of Health and has opened talks with the Serious Fraud Office concerning a parallel criminal charge, against which it entered a not guilty plea two months ago, The Guardian reports.

At the same time, founders Ajit Patel and Kirti Patel – both of whom have also pleaded not guilty to related SFO charges – have resigned as chief executive and chief operating officer respectively.

Goldshield, which until today had a stock market value of less than £70m, has agreed to pay £4m to the DoH to settle cartel allegations relating to the price charged to the NHS for the blood thinning drug warfarin.

It is the third such settlement, all of which have come without admissions of liability.

The British subsidiary of German group Merck has already agreed a £12m deal with the DoH and Indian firm Ranbaxy paid £4.5m. Shares in Goldshield yesterday closed up 16%, at 218p.

Meanwhile, the three firms, together with a further three companies and nine executives, were charged by the SFO with conspiracy to defraud in April last year.

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