Serono Labs Pleads Guilty to the Illegal Marketing of AIDS Drug

U.S. Newswire, December, 2005

BOSTON, Dec. 16 /U.S. Newswire/ -- The U.S. subsidiary, SERONO LABORATORIES, INC., of Swiss Corporation SERONO, S.A., pleaded guilty and was sentenced today in federal court on criminal charges in connection with several illegal schemes to promote, market and sell its drug, Serostim, used to treat AIDs wasting, a condition involving profound involuntary weight loss in AIDS patients.

In October, SERONO, S.A., together with its U.S. subsidiaries, SERONO, INC., SERONO HOLDING, INC., SERONO LABORATORIES, INC. and related entities ("SERONO") reached a global resolution with the United States in which it agreed to pay a total of $704,000,000 to resolve the criminal charges and civil liabilities in connection with the several illegal schemes to promote, market and sell Serostim....