Eisai Co., Ltd. REACHES VITAMIN SETTLEMENT
Eisai Co., Ltd. of Tokyo, Japan announced today it has reached a settlement agreement with the U.S. Department of Justice concerning anti-competitive practices in connection with the Company's sales of synthetic vitamin E to the U.S. for the period extending from January 1991 to February 1999. The Company cooperated fully with the Departments investigation and has agreed to a settlement under which it will pay to the U.S. Government an amount of $40 million (approximately 4.4 billion).
The Company also expects to reach an agreement soon with civil plaintiffs in a U.S. Federal Court to resolve claims that have been made against the Company in the United States.
Eisai deeply regrets the occurrences, as high legal and ethical standards of conduct are applied to Eisais worldwide business practices.
The Company is taking a number of measures including a comprehensive review of its antitrust compliance programs to ensure the observance of antitrust laws and regulations in the countries in which Eisai does business.