Bristol and DoJ finalize $500 million settlement
Executive Summary
Bristol-Myers Squibb enters into a corporate integrity agreement with the Office of Inspector General as part of a settlement to resolve a variety of civil allegations Sept. 28. Bringing to end a lengthy investigation into Bristol's pricing, sales and marketing practices, the firm and Department of Justice finalize a settlement of $499 million; as anticipated, Bristol will pay over $317 million to the federal government and over $181 million to Medicaid-participating states with previously reserved funds (1"The Pink Sheet" Jan. 1, 2007, p. 13). DoJ alleges that Bristol: illegally paid health care providers to encourage them to purchase Bristol's products; knowingly promoted "off-label" uses of the atypical antipsychotic Abilify (aripiprazole); helped set fraudulent inflated prices; and knowingly misreported its best price for the antidepressant Serzone (nefazodone)...
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Bristol-Myers Squibb enters into a corporate integrity agreement with the Office of Inspector General as part of a settlement to resolve a variety of civil allegations Sept. 28. Bringing to end a lengthy investigation into Bristol's pricing, sales and marketing practices, the firm and Department of Justice finalize a settlement of $499 million; as anticipated, Bristol will pay over $317 million to the federal government and over $181 million to Medicaid-participating states with previously reserved funds (1 (Also see "Bristol To Pay $500 Million Civil Fine Under Tentative Deal With U.S. Attorney" - Pink Sheet, 1 Jan, 2007.), p. 13). DoJ alleges that Bristol: illegally paid health care providers to encourage them to purchase Bristol's products; knowingly promoted "off-label" uses of the atypical antipsychotic Abilify (aripiprazole); helped set fraudulent inflated prices; and knowingly misreported its best price for the antidepressant Serzone (nefazodone).... |