Hawaii in $700 million settlement with Bristol-Myers, Sanofi over Plavix warning label

By Kanishka Singh

May 9 (Reuters) - Hawaii said on Friday it entered a $700 million settlement with pharmaceutical firm Bristol-Myers Squibb BMY.N and units of French pharmaceutical company Sanofi SASY.PA in a case about warning labels related to health risks from blood thinner Plavix.

Hawaii had alleged the companies violated state consumer protection laws by marketing Plavix without disclosing that the drug could have a diminished or no effect for some people, particularly of East Asian and Pacific Island ancestry.

The settlement divides the total amount of $700 million equally between Bristol-Myers Squibb and Sanofi, Hawaii said in a statement, adding it will be paid by wire transfer by June 9.

"This settlement agreement brings closure to nearly 12 years of litigation," Hawaii Attorney General Anne Lopez said.

Plavix, known generically as clopidogrel, is prescribed to prevent blood clots that can lead to strokes and heart attacks. The blood thinner needs to be activated by the body's own enzymes, which can vary genetically.

The companies have previously said "the overwhelming body of scientific evidence demonstrates that Plavix is a safe and effective therapy, regardless of a patient's race or genetics."

Studies have shown that about 14% of Chinese patients are unable to metabolize the drug properly, compared with 4% of Black and 2% of white patients.