Drug Pricing

Boston, MA: (Sep-28-07) The US Department of Justice and the US Attorney for the District of Massachusetts brought a lawsuit against Bristol-Myers Squibb Co. following an investigation into the company's drug pricing, sales, and marketing activities. Under finalized terms, the company entered a five-year corporate integrity agreement with the Office of the Inspector General of the Department of Health and Human Services that provides for continued development and maintenance of compliance programs related to its US pharmaceuticals business, among other obligations. As part of the settlement agreement, the company will pay $499 million, providing a civil resolution. Bristol-Myers officials claimed that the company does not face any criminal charges, and that the agreement won't affect ongoing business with any customers or the government. [CNN NEWS: DRUG PRICING]

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Published on Oct-1-07