Updated to include BTG’s guilty plea entered Nov 7. BTG (LON:BTG) said today that it agreed to pay the U.S. Justice Dept. $36 million (£28.4 million) to settle a probe into the marketing of the LC Bead embolization microspheres made by its Biocompatibles subsidiary. The company plead guilty on Monday, November 7, to charges of improperly marketing […]
Legal News
Mylan, Teva crash on report that Justice Dept. could file charges in generic pricing probes
The U.S. Justice Dept. could reportedly file charges in its generic-drug pricing probe into companies including Mylan Pharmaceuticals (NSDQ:MYL) and Teva Pharmaceuticals (NYSE:TEVA) by the end of year. The department is examining whether the generic drug makers colluded on drug pricing, Bloomberg reported yesterday. The news source said that Mylan and Teva have disclosed subpoenas and are cooperating […]
West Virginia wants Justice Dept. to nix Mylan settlement
(Reuters) – West Virginia Attorney General Patrick Morrisey on Wednesday blasted a pending $465 million settlement between Mylan NV (NSDQ:MYL) and the U.S. Justice Dept. over the misclassification of the EpiPen, saying it was “woefully deficient.” In a Nov. 2 letter to Attorney General Loretta Lynch, Morrisey said the amount likely fell short of how […]
SEC launches probe, investors file suit against Mylan over EpiPen pricing
Despite a $465 million settlement with the U.S. Justice Dept., Mylan (NSDQ:MYL) is still under fire for misclassifying its EpiPen auto-injector with the Centers for Medicare & Medicaid Services. Last week, the Securities & Exchange Commission’s enforcement division launched an investigation into the Canonsburg, Pa.-based company’s history with CMS; yesterday investors filed a purported class […]
Mylan settles EpiPen pricing probe with $465m
Mylan (NSDQ:MYL) last week agreed to pay $465 million to settle claims that it underpaid Medicaid for its EpiPen auto-injector by misclassifying the device as a generic. Last week, the Centers for Medicare & Medicaid Services said it spent $797 million on the emergency allergy treatment between 2011 and 2015, including rebates. The Canonsburg, Pa.-based company has […]
CMS finds Mylan overcharged Medicaid for EpiPens for years
The Centers for Medicare & Medicaid Services said this week that Mylan Pharmaceuticals (NSDQ:MYL) has been overcharging Medicaid for its EpiPen auto-injector for years, despite being warned that it should have paid bigger rebates. CMS said that between 2011 and 2015, Medicaid spent $797 million on the epinephrine auto-injector after deducting rebates, marking the 1st […]
Sanofi sues Merck over injected insulin
Sanofi Aventis (NYSE:SNY) said today that it filed a patent infringement lawsuit against Merck Sharp & Dohme Corp. (NYSE:MRK) over 10 U.S. patents related to its injected insulin device. The Paris-based company said it is seeking an injunction and damages from Merck for filing a new drug application with the FDA that challenged 10 of Sanofi’s patents […]
Mylan CEO to testify before House panel over EpiPen pricing
(Reuters) –Mylan (NSDQ:MYL) Chief Executive Officer Heather Bresch will appear at a Sept. 21 congressional hearing over price increases for its EpiPen emergency allergy treatment, the U.S. House of Representatives Oversight Committee said in a statement on Wednesday. Mylan has been widely criticized, including by U.S. Democratic presidential candidate Hillary Clinton, for sharply raising the price […]
Parents file lawsuit against Mylan over EpiPen ‘price-gouging’
A parent in Ohio reportedly leveled a class-action lawsuit against EpiPen maker Mylan (NSDQ:MYL) over the nearly 500% increase in the cost of the epinephrine injector since Mylan acquired the device in 2007. The suit, filed yesterday in Hamilton County Common Pleas Court, seeks an unspecified amount of damages for its 25 plaintiffs, according to Cincinnati.com. […]
Unilife: Ex-CEO Shortall’s shenanigans exposed ‘material weaknesses’
Shares in Unilife (NSDQ:UNIS) are off 7% this week after the company said its investigation into former CEO Alan Shortall turned up “material weaknesses” in its bookkeeping procedures that will require it to restate some of its financials. Shortall, who left the company in March along with COO Ramin Mojdeh, was elevated to chairman in 2013. In May, […]
