Bristol-Myers To Pay $499M To Settle Pricing Charges

Law360, New York (December 21, 2006, 12:00 AM EST) -- Bristol-Myers Squibb Co. has agreed in principle to pay $499 million to settle long-running government investigations into the drug maker’s pricing formulas and sales and marketing activities, the company said Thursday.

Under the proposed deal, the New York-based company will escape criminal charges related to its alleged inflation of average wholesale drug prices, including prices used by government programs and insurers for reimbursement purposes.

The activities prompted several states and counties in New York to take action, with their investigations eventually consolidated by the U.S. Department...
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