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Bristol-Myers Squibb To Pay $515M To Settle Federal, State Investigations

Main Category: Pharma Industry / Biotech Industry
Also Included In: Litigation / Medical Malpractice
Article Date: 03 Oct 2007 - 8:00 PST

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Bristol-Myers Squibb on Friday said it would pay more than $515 million to settle federal and state investigations into drug marketing and pricing practices, AP/USA Today reports. The former BMS subsidiary Apothecon, a generic drug maker, also is being investigated. The allegations against BMS, stemming from actions between 1994 and 2005, include:Apothecon was accused of giving illegal enticements to retail pharmacies and wholesalers to buy its drugs. BMS in a statement said that the settlement would not change its business with any customers, including the federal government (Lavoie, AP/USA Today, 9/29).

ABC's "World News" on Friday reported on the settlement. The segment includes comments from U.S. Attorney Michael Sullivan and Bill Vaughan, a senior policy analyst at Consumers Union (Pierre Thomas, "World News," ABC, 9/30). Video of the segment is available online.

Reprinted with kind permission from http://www.kaisernetwork.org. You can view the entire Kaiser Daily Health Policy Report, search the archives, or sign up for email delivery at http://www.kaisernetwork.org/dailyreports/healthpolicy. The Kaiser Daily Health Policy Report is published for kaisernetwork.org, a free service of The Henry J. Kaiser Family Foundation© 2005 Advisory Board Company and Kaiser Family Foundation. All rights reserved.

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