NEW BRUNSWICK, N.J.--(BUSINESS WIRE)--Dec. 20, 2005--Xechem International, Inc. (OTC BB: XKEM) Xechem International announced today that it has settled its antitrust lawsuit against Bristol-Meyers Squibb Co. for $4.2 million. Court files reveal that the case against Bristol-Meyers, which was brought in federal district court in Chicago in 2003, was based on Xechem’s allegations that Bristol-Meyers had engaged in anticompetitive practices relating to Xechem’s efforts to manufacture and bring to market the drug paclitaxel, a generic equivalent of Bristol’s cancer drug, TAXOL(R). Similar allegations against Bristol had previously been raised in lawsuits brought by other generic drug companies which settled out of court. Bristol-Meyers has not admitted to any wrongdoing as part of the settlement. (For more information regarding the settlement, please refer to the Company’s Form 8-K of public record.)
