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Abbott sues Watson
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June 12, 2001: 4:58 p.m. ET
Abbott alleges Watson misinformed consumers over thyroid drug Synthroid
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NEW YORK (CNNfn) - Abbott Laboratories filed suit in Federal Court against Watson Pharmaceuticals Inc. on Tuesday, alleging false advertising and deceptive trade practices related to Abbott's thyroid drug Synthroid.
Abbott (ABT: Research, Estimates) said Watson is conducting an "orchestrated campaign designed to concern and confuse patients" in an effort to get them to switch to Watson's thyroid treatment.
A spokesman for Watson (WPI: Research, Estimates) said he has not seen the complaint, but based on Abbott's press release he said the allegations are completely without merit.
In June, the U.S. Food and Drug Administration told Abbott Laboratories that the drug Synthroid could be taken off the market if the company did not file a New Drug Application.
Abbott had argued through a "Citizens' Petition" to the FDA that Synthroid had been used safely for decades and thus deserved to be "grand-fathered" in. The petition was denied and Abbott said it would file a New Drug Application.
Abbott asserts Synthroid is "safe and effective" and claims Watson is providing misleading information to induce patients to switch drugs.
"Switching prescription thyroid drugs is not as simple as merely matching dosage," said David Pizzuti, M.D., Abbott vice president, in a statement. "Because of the medical implications of switching, it is extremely irresponsible for Watson to falsely generate concerns about the continued availability of Synthroid."
The suit also asks the court to order Watson to run an advertising campaign to correct the "deliberate misinformation."
Shares of Abbott fell $2.30 to $50.72 Tuesday, while Watson fell 11 cents to $61.65. 
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