September 28, 2007
Bristol-Myers Squibb Agrees to $515 Million Settlement With Government
Article from WCVB TV/DT Boston -- Company To Pay $515M To Settle Drug Marketing Probes: Bristol-Myers Squibb Agrees To Settlement. Here's an excerpt:
Bristol-Myers Squibb Co. and a subsidiary have agreed to pay more than $515 million to settle federal and state investigations into their drug marketing and pricing practices, U.S. Attorney Michael Sullivan announced Friday.
Government investigators alleged that Bristol-Myers Squibb paid illegal remuneration from 2000 to 2003 in the form of consulting fees to induce doctors and other health care providers to buy the company's drugs.
Investigators also claimed that from 2002 to 2005, the New York-based drugmaker promoted the sale of Abilify, an anti-psychotic drug, for pediatric use and to treat dementia-related psychoses. Neither use is approved by the Food and Drug Administration
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