Pharmaceutical activities (discontinued)
In the context of the sale of the pharmaceutical activities in February 2010, the contractual arrangements have defined terms and conditions for the allocation and sharing of liability arising out of the activities before the sale.
Subject to limited exceptions, Solvay’s exposure for indemnifications to Abbott for liabilities arising out of sold activities is limited to an aggregate amount representing €500 million and is limited in duration.
This includes indemnification against certain potential liabilities for the US Qui Tam litigation focusing on promotional and marketing practices that allegedly influenced sales of the drugs ACEON®, LUVOX®, and ANDROGEL®, and more recently filed testosterone replacement therapy (TRT) litigation also focusing on the drug ANDROGEL®. These claims are proceeding at varying rates of resolution.