Bristol-Myers Squibb Co. offered to pay $499 million to settle federal investigations into whether the company played a role in a pricing scheme that led insurers and government agencies to overpay for drugs. The company entered an agreement in principle with the DOJ and the U.S. Attorney in Massachusetts to pay the settlement and avoid civil and criminal charges. The company will also enter a corporate integrity agreement with the Office of Inspector General of the Department of Health and Human Services.
December 22, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Bristol-Myers Squibb Co. offered to pay $499 million to settle federal investigations into whether the company played a role in a pricing scheme that led insurers and government agencies to overpay for drugs. The company reduced its profit forecast to reflect the charges.
The New York-based drugmaker entered an agreement in principle with the Justice Department and the U.S. Attorney in Massachusetts to pay the settlement and avoid civil and criminal charges.
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