EpiPen Maker Mylan Finalizes Its $465M Settlement With The Feds

EpiPen Maker Mylan Finalizes Its $465M Settlement With The Feds

EpiPen Maker Mylan Finalizes Its $465M Settlement With The Feds

Pharmaceutical companies Mylan Inc. and Mylan Specialty L.P. have agreed to pay $465 million to resolve claims they violated the False Claims Act by knowingly misclassifying EpiPen as a generic drug to avoid paying rebates owed primarily to Medicaid, the U.S. Department of Justice announced August 17, in a case that generated widespread attention about the rising cost of the anti-allergy EpiPen auto-injection device. Mylan acquired the rights to the shot-delivered medicine in 2007 and then raised the price roughly six-fold.

The Ohio Attorney General says Ohio will receive $19.6 million as part of an EpiPen rebate settlement.

Lawmakers slammed the federal agencies on Thursday for letting Mylan get off the hook too easily with the settlement. Sen.

To view the full article, register now.

Metals: Gold Continues Rise After Fed Minutes Show Division
Dollar responded by erasing all of its early gains to close lower and gold rebounded to close higher after early session weakness. Fed officials were less optimistic about the federal government doing its part to stimulate the economy through fiscal policy.

Sanofi, which itself has a history of making payments to settle False Claim Act violations, will split the Mylan money with a company that previously received a multimillion-dollar bounty for blowing the whistle on Sanofi.

The regulation is meant to protect taxpayer-funded programs from large price spikes for drugs only available from a single source. That allowed it to pay less in rebates to Medicaid. Doing so, the Department of Justice charged, allowed it to "demand massive price increases in the private market while avoiding its corresponding rebate obligations to Medicaid".

The independent organization will also review all of Mylan's products that are now eligible for Medicaid rebates and make sure that they are classified correctly, which might catch something like a misclassified EpiPen in the future. $234,689.47 will be held by the federal government as the federal Medicaid share.

The company allegedly avoided paying higher rebates by labeling the EpiPen a generic drug rather than a brand-name one.

India train crash in Uttar Pradesh leaves 23 dead
At least 23 people were killed and 81 others injured when a passenger train derailed in India on Saturday . At least five carriages came off the tracks and some hit nearby houses in Muzaffarnagar, northern India.

According to the government's complaint, Mylan erroneously listed the EpiPen as a generic drug to Medicaid. Mylan Specialty owns the exclusive rights to sell EpiPen in the United States and owns to the New Drug Codes for EpiPen.

Weissman and Senate Judiciary Committee Chairman Chuck Grassley, R-Iowa, said the Health and Human Services Department's Office of Inspector General concluded that Medicaid incorrectly paid Mylan $1.27 billion more than they should have for over a decade.

"Mylan's agreement with [Centers for Medicare & Medicaid Services] to correctly classify EpiPen is a huge win for Medicaid beneficiaries and American taxpayers", CMS Administrator Seema Verma said in a statement.

Pak EC's nod for nomination of Sharif wife's challenged
The petitioner had presented all the above mentioned arguments before the ECP, however the arguments were found to be "baseless". The nomination papers of Hafiz Nauman, who is covering candidate of Kulsoom Nawaz, have also been approved by the ECP.

Latest News