Apotex Inc. Drug Maker Sues U.S. for $520 Million Under NAFTA
3/15/2012 8:31:24 AM
Canada’s largest generic drug maker is seeking $520 million U.S. in damages from the U.S. government, saying an “import alert” that prevented it from shipping to the U.S. for nearly two years violated the North American Free Trade Agreement. Apotex Holdings said the alert was issued by the US Food and Drug Administration in August 2009 after a routine inspection of two Apotex plants in the Toronto area. At the time, exports accounted for 60 per cent of Apotex’s business, making it the sixth largest distributor in America, the company says in documents published on a U.S. State Department website.