Saturday, September 29, 2007
Bristol-Myers Squibb Settles Kickback Scheme for Over $515 Million
Bristol-Myers Squibb and its subsidiary, Apothecon, have agreed to settle several allegations involving their drug marketing and pricing practices. The lawsuits alleged that between 2000 and 2003, Bristol-Myers Squibb offered kickbacks to physicians and other healthcare providers to get them to promote Bristol-Myers Squibb drugs.
Additionally, from 2002 to 2005 the company promoted the sale and use of Abilify for pediatric use and for dementia-related psychosis. The FDA had not approved the drug for these uses, making it an “off-label” use. Companies are not allowed to promote drugs for off-label use.
It was also alleged that the company set and maintained inflated prices for its oncology and other generic drugs, knowing that they would be reimbursed through Medicare and other federal programs at these inflated prices.
This settlement resolves in part or in whole allegations brought about by seven qui tam actions brought under the False Claims Act.
Click here to read more about the Bristol-Myers Squibb Qui Tam Settlement.
Posted by Quitam Help Admin on 09/29 at 08:33 PM
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